(1) The state school aid pupil support reserve fund is created as a separate account within the state school aid fund to fund programs described in sections 21h, 32n, 65, 67f, and 99h. It is the intent of the legislature that money in the state school aid pupil support reserve fund will be used to support the above programs for 2025-2026, 2026-2027, and 2027-2028.

    (2) The state treasurer may receive money or other assets from any source for deposit into the state school aid pupil support reserve fund. The state treasurer shall direct the investment of the state school aid pupil support reserve fund. The state treasurer shall credit to the state school aid pupil support reserve fund interest and earnings from state school aid pupil support reserve fund investments.

    (3) Money in the state school aid pupil support reserve fund at the close of the fiscal year remains in the state school aid pupil support reserve fund and does not lapse to the state school aid fund.

    (4) The department of treasury is the administrator of the state school aid pupil support reserve fund for auditing purposes.

    (5) Money available in the state school aid pupil support reserve fund must not be expended without a specific appropriation.

    (6) For the fiscal year ending September 30, 2026 only, $326,112,200.00 from the state school aid fund is deposited into the state school aid pupil support reserve fund.