Section 19-5-1281 - Merit Teacher Incentive Fund(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a miscellaneous fund within the Public School Fund to be known as the "Merit Teacher Incentive Fund".(b) The fund shall consist of: (1) Moneys obtained from private or public grants, gifts, or donations that are designated to be credited to the fund; and(2) Any other funds authorized or provided by law.(c) The fund shall be used by the Division of Elementary and Secondary Education to create and maintain the Merit Teacher Incentive Fund Program moneys.(d) Moneys remaining in the fund at the end of each fiscal year shall carry forward and be made available for the purposes stated in this section in the next fiscal year.Added by Act 2023, No. 237,§ 63, eff. 7/1/2023.