1. (a) As used in this section, "historic library building" means a building that is currently used or will be returned to use for public library purposes and:

   1. (1) was originally constructed for use as a public library with money donated by Andrew Carnegie; or
   2. (2) is listed on the National Register of Historic Places.
2. (b) As used in this section, "fund" refers to the historic library building improvement fund established under subsection (c).

3. (c) The historic library building improvement matching grant program and fund are established for the purpose of providing matching grants to public libraries to restore and repair historic library buildings. The state library shall:

   1. (1) provide details for the matching grant program, including eligibility and match requirements; and
   2. (2) administer the fund.

4. (d) The fund consists of the following:

   1. (1) Appropriations by the general assembly.
   2. (2) Grants and gifts that the state library receives for the fund under terms, obligations, and liabilities that the state library considers appropriate.
5. (e) The expenses of administering the fund shall be paid from money in the fund.
6. (f) The treasurer of state shall invest the money in the fund that is not currently needed to meet the obligations of the fund in the same manner as other public funds may be invested. The treasurer of state shall deposit in the fund the interest that accrues from the investment of the fund.
7. (g) Money in the fund at the end of a state fiscal year does not revert to the state general fund.

As added by P.L.94-2001, SEC.1.