1. (1) There is created in the General Fund a restricted account known as the "School Readiness Restricted Account."

2. (2) The School Readiness Restricted Account consists of:

   1. (a) money appropriated by the Legislature;
   2. (b) all income and interest derived from the deposit and investment of money in the account;
   3. (c) federal grants; and
   4. (d) private donations.

3. (3) Subject to legislative appropriations, money in the restricted account may be used:

   1. (a) to award a grant under Section 35A-15-301 or 35A-15-302;
   2. (b) to contract with an evaluator;
   3. (c) to fund the participation of eligible students in a high quality school readiness program through a results-based contract; and
   4. (d) for administration costs and to monitor the programs described in this part.

4. (4) Money for awards under Subsection (3)(a) shall be allocated in the following order to:

   1. (a) pay results-based contracts;
   2. (b) grant awards under Section 35A-15-302; and
   3. (c) if any allocated funds remain, grant awards under Section 35A-15-301.

Amended by Chapter 525, 2024 General Session