Section 71-3-520 - Child care improvement pilot program - Funding - Funding subject to review(a) There is created a child care improvement pilot program to provide grants to nonprofit organizations to be used for establishing a new child care agency in this state or making improvements to, or assisting with staffing, recruitment, or salary gaps, at an existing child care agency in this state. The program must be operated from July 1, 2023, to June 30, 2026.(b) There is created within the state general fund a special account to be known as the child care improvement fund (the fund).(c) The department of human services shall administer the fund, and moneys in the fund must be expended and obligated only in accordance with this section and in accordance with appropriations made by the general assembly.(d) Unless otherwise specified in this section, moneys deposited in the fund must be used only to implement and administer the purposes set forth in this section. In addition to appropriations made to the fund, the department may accept other funds, public or private, by way of gift or grant to the fund. A gift or grant must be deposited into the fund to be expended in accordance with this section.(e) The state treasurer shall invest moneys in the fund for the benefit of the fund in accordance with § 9-4-603. Interest accruing on investments and deposits of the fund must be credited to and remain part of the fund.(f) Any unencumbered moneys and any unexpended balance of the fund remaining at the end of a fiscal year do not revert to the general fund, but must be carried forward until expended in accordance with this section. No part of the fund shall be diverted to the general fund or any other public fund.(g) All expenditures from the fund are subject to review in the form of a written report submitted by the department to the commissioner of finance and administration no later than January 15, 2024, and by January 15 each year thereafter until the close of the pilot program period.Added by 2023 Tenn. Acts, ch. 452, s 1, eff. 5/17/2023.