§ 38–274.03. Higher Education Incentive Program Fund.
(a)(1) There is established as a special fund the Higher Education Incentive Program Fund ("HEIP Fund"), which shall be administered by the University of the District of Columbia in accordance with subsection (b) of this section.
(2) The HEIP Fund shall be funded through:
(A) Local funds;
(B) Federal funds;
(C) Federal grant funds; and
(D) Grants, gifts, or subsidies from public or private sources.
(b) Money in the HEIP Fund shall be used for the following purposes:
(1) To fund awards issued pursuant to the HEI scholarship program; and
(2) To pay for the costs of administering the HEI Program, not to exceed 10% of the balance of the HEIP Fund per fiscal year.
(c)(1) The money deposited into the HEIP Fund 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.
(d) The HEIP Fund shall appear as a separate program line within the budget of the University of the District of Columbia.