The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
15-1704 - Postsecondary educational fund; exemption; use of monies
15-1704. Postsecondary educational fund; exemption; use of monies
A. The postsecondary educational fund is established. The Arizona board of regents shall administer the fund, which consists of the following:
1. Monies appropriated by the legislature.
2. Monies received from state agencies and political subdivisions of this state.
3. Monies received from the United States government, including monies received from the United States department of education.
4. Gifts, grants and donations received from any private source.
5. Monies received from a postsecondary educational institution through a program participation agreement.
B. Monies in the fund are continuously appropriated and are exempt from the provisions of section 35-190 relating to lapsing of appropriations.
C. Monies in the postsecondary educational fund shall be used for the following purposes:
1. Providing matching monies as prescribed in section 15-1703, subsection C.
2. Administrative expenses necessary for the Arizona board of regents to administer the programs identified in this article and to serve as the state higher education agency and the state scholarship grant agency.