(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a miscellaneous fund to be known as the 'Philanthropic Investment in Arkansas Kids Academic Accountability Fund'.(b) The fund shall consist of: (1) Moneys obtained from private or public grants, gifts, or donations that are designated to be credited to the fund; and(2) Any other funds authorized or provided by law.(c) The fund shall be used by the Division of Elementary and Secondary Education to create and maintain the Philanthropic Investment in Arkansas Kids Program under the Philanthropic Investment in Arkansas Kids Program Act, § 6-18-2301 et seq.(d) Moneys remaining in the fund at the end of each fiscal year shall carry forward and be made available for the purposes stated in this section in the next fiscal year.Added by Act 2021, No. 904,§ 2, eff. 7/28/2021.
Arkansas Legal Code