There is hereby established in the joint custody of the comptroller and the commissioner of taxation and finance a fund to be known as the charter schools stimulus fund. Such fund shall consist of all monies made available pursuant to appropriation for this purpose, all monies transferred to such fund pursuant to law, and grants, gifts and devises and donations from any public or private source. The purpose of such fund is to provide discretionary financial support, including grants and loans to charter school applicants and to charter schools for start-up costs and for costs associated with the acquisition, renovation, or construction of school facilities.
New York Legal Code