Establishes the Early Childhood Education Endowment to fund early childhood education programs.
This bill establishes the Early Childhood Education Endowment to fund early childhood education programs. The endowment will receive and hold contributions, grants, and earnings until released by the State Treasurer. The State Treasurer sets the annual draw rate based on investment performance and sustainability. The endowment funds can be used for administrative costs, expansion costs, and programmatic costs. The Interagency Resource Management Committee oversees the endowment and develops recommendations for permissible expenditures.
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