(a) Notwithstanding any other provision of law, the State Superintendent of Education may enter into one or more written agreements for advertisements and sponsorships to fund My School DC EdFest, an annual citywide public school fair.
(b) No agreement pursuant to this section may require the District to expend funds.
(c) Only advertisements shall be agreed to in exchange for corporate goods, services, or funds.
(d) There shall be no limit to the value of goods, services, or funds that may be received from an organization, registered or not, or from an individual, regardless of whether the organization is located, or the individual resides, within the District of Columbia.
(e) Any sponsorship or advertisement pursuant to this section shall be memorialized by written agreement of the parties.
(f) The State Superintendent of Education shall keep an accounting of all goods, services, and funds received pursuant to this section and shall submit to the Mayor and to the Council of the District of Columbia a report accounting for all goods, services, and funds received pursuant to this section by April 30 of each year.
(g) The Chief Financial Officer shall deposit all cash proceeds received from advertisements and sponsorships pursuant to this section into the Common Lottery Board Fund established pursuant to § 38-195.