Section 223.631 - Account for the Graduate Medical Education Grant Program: Creation; administration; deposits; interest and income; uses of money; nonreversion; payment of claims1. The Account for the Graduate Medical Education Grant Program is hereby created in the State General Fund. The Director of the Office of Science, Innovation and Technology shall administer the Account.2. The Director of the Office of Science, Innovation and Technology may: (a) Accept any gift, donation, bequest or devise; and(b) Apply for and accept any grant, loan or other source of money, for deposit in the Account to assist the Director in carrying out the Graduate Medical Education Grant Program established pursuant to NRS 223.637.
3. The interest and income earned on the money in the Account, after deducting any applicable charges, must be credited to the Account.4. The money in the Account must only be used to:(a) Award competitive grants to institutions in this State seeking to create, expand or retain programs for residency training and postdoctoral fellowships that are approved by the Accreditation Council for Graduate Medical Education or its successor organization; and(b) Defray the costs of establishing and administering the Graduate Medical Education Grant Program established pursuant to NRS 223.637.5. Any money remaining in the Account at the end of the fiscal year does not revert to the State General Fund, and the balance in the Account must be carried forward to the next fiscal year.6. Claims against the Account must be paid as other claims against the State are paid.Added to NRS by 2023, 2058Added by 2023, Ch. 378,§2, eff. 6/12/2023.