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<br />22-7-506. Read-to-achieve grant program - board created - fund <br />- repeal. (4) (e) NOTWITHSTANDING ANY PROVISION OF THIS SUBSECTION <br />(4) TO THE CONTRARY, ON THE EFFECTIVE DATE OF THIS PARAGRAPH (e), THE <br />STATE TREASURER SHALL DEDUCT ONE'MILLION FOUR HUNDRED FORTY <br />THOUSAND SIX HUNDRED TWENTY-ONE DOLLARS FROM THE CASH FUND AND <br />TRANSFER SUCH SUM TO THE GENERAL FUND. <br /> <br />e <br /> <br />SECTION 10, 22-7-708, Colorado Revised Statutes, is amended to <br /> <br />read: <br /> <br />22-7-708. Teacher development fund - creation. (I) There is <br />hereby created in the state treasury the teacher development fund referred <br />to in this section as the "fund", for payment of teacher development grants <br />awarded pursuant to section 22-7-704. The fund shall consist of such <br />moneys as may be appropriated thereto by the general assembly and such <br />moneys as may be credited thereto pursuant to section 22-7-704 (4). <br />Moneys in the fund shall be subject to annual appropriation by the general <br />assembly for the purposes specified in ~his part 7. The department may <br />expend up to three percent of the moneys, annually appropriated to the fund <br />to offset the documented costs incurred iI). implementing the grant program. <br />All interest derived from the deposit andlinvestment of moneys in the fund <br />shall be credited to the fund. At the end of any fiscal year, all unexpended <br />and unencumbered moneys in the fund Shall remain therein and shall not be <br />credited or transferred to the general ful1d or any other fund. <br /> <br />e <br /> <br />(2) NOTWITHSTANDING ANY PROVISION OF THIS SECTION TO THE <br />CONTRARY, ON THE EFFECTIVE DATE OF'THIS SUBSECTION (2), THE STATE <br />TREASURER SHALL TRANSFER THE BALANCE OF MONEYS IN THE FUND TO THE <br />GENERAL FUND. <br /> <br />SECTION 11, 22-60.5-112, Colorado Revised Statutes, is amended <br />to read: <br /> <br />22-60.5-112, Fees - fund. (1) The fee for the examination and <br />review of an application for any license, :endorsement, or authorization, or <br />any renewal or reinstatement thereof, shall be established by the state board <br />of education and shall be nonrefundable. Upon determination of eligibility, <br />such license, endorsement, or authorization shall be issued without an <br />additional fee. The state board of education shall adjust if necessary all <br />such fees annually so that they generate an amount of revenue that <br /> <br />PAGE 4-SENATE BILL 03-191 <br /> <br />e <br />