(a)      (1)      There is a Public Education Partnership Fund.

            (2)      The Fund shall be used to:

                  (i)      Enhance cooperation between the private sector and public education entities;

                  (ii)      Facilitate the expansion and development of new partnership initiatives;

                  (iii)      Encourage the donation of corporate and foundation money to expand the outreach capacity of the Department; and

                  (iv)      Strengthen the development of family and community involvement in public education.

      (b)      The Comptroller shall credit to the Public Education Partnership Fund any money that is received from public grants and private contributions.

      (c)      The State Board, upon the recommendation of the State Superintendent, may use money that is credited to the Public Education Partnership Fund for any activity or program that furthers the purposes listed in subsection (a)(2) of this section, including:

            (1)      Preparation and distribution of information packets and brochures;

            (2)      Development of public service announcements;

            (3)      Development of seminars and training programs focusing on public education priorities;

            (4)      Development of a family and community involvement hot line;

            (5)      Establishing appropriate award systems for the recognition of educators and business contributors; and

            (6)      Evaluating and recommending methods to improve the efficiency and promote the growth of private sector and public education partnerships.

      (d)      The Treasurer shall invest money from the Public Education Partnership Fund for the use of the Fund, and all earnings shall be credited to the Fund.

      (e)      Expenditures from the Fund shall be made pursuant to an appropriation approved by the General Assembly in the annual State budget or by the budget amendment procedure provided for in § 7-209 of the State Finance and Procurement Article.

      (f)      The Fund is a continuing, nonlapsing fund that:

            (1)      Is not subject to § 7-302 of the State Finance and Procurement Article; and

            (2)      May not be used as a substitute for State General Fund appropriations.

      (g)      The Public Education Partnership Fund is subject to audit by the Legislative Auditor as provided under § 2-1220 of the State Government Article.