From such funds as may be available from public or private sources, there is hereby created in the state treasury a special nonreverting fund to be known as the STEM Competition Team Grant Fund to be administered by the Board of Education. The Fund shall be established on the books of the Comptroller. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund. Moneys in the Fund shall be used solely for the purposes of providing grants for science, technology, engineering, and mathematics education competition teams at qualified schools. Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the Superintendent of Public Instruction.
2016, c. 761.