A. The Arizona agricultural youth organization special plate fund is established consisting of monies received pursuant to section 28-2436. The state board of education acting as the state board for vocational and technological education shall administer the fund. The first thirty-two thousand dollars in the fund shall be reimbursed to the entity that provides the thirty-two thousand dollars to the department of transportation pursuant to section 28-2436. Not more than ten per cent of monies deposited in the fund annually shall be used for the cost of administering the fund. Monies in the fund are continuously appropriated. The state board of education acting as the state board for vocational and technological education shall annually allocate monies from the fund, excluding administrative fees, to student career and technical education organizations that promote agricultural education programs at middle schools, junior high schools and high schools in this state, that connect students to careers in science, business and the technology of agriculture and that develop student leadership opportunities in agriculture. The organizations shall use the allocated monies for the organizations’ operations and activities and for student scholarships.

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B. On notice from the state board of education acting as the state board for vocational and technological education, the state treasurer shall invest and divest monies in the fund as provided by section 35-313, and monies earned from investment shall be credited to the fund. Monies in the fund are exempt from the provisions of section 35-190 relating to lapsing of appropriations.