(a) There is established as a special fund the Common Lottery Board Fund (“Fund”), which shall be administered by the State Superintendent of Education in accordance with subsections (c) and (d) of this section.
(b) Deposits into the Fund shall include:
(1) Appropriated funds;
(2) Gifts,
(3) Grants;
(4) Donations; and
(5) Cash proceeds for DC EdFest deposited pursuant to § 38-196.01(g).
(c)(1) Except as provided in paragraph (2) of this subsection, money in the Fund shall be used for the continued development and improvement of the common lottery system.
(2) Cash proceeds deposited pursuant to § 38-196.01(g), shall first be used to fund My School DC EdFest. Any excess funds shall be used in accordance with paragraph (1) of this subsection.
(d)(1) The money deposited into the Fund, and interest earned, shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time.
(2) Subject to authorization in an approved budget and financial plan, any funds appropriated in the Fund shall be continually available without regard to fiscal year limitation.
