There is established an account to be known as the competitive district grant account which shall be a separate, nonlapsing account within the General Fund. The account shall contain any moneys required by law to be deposited in the account. Moneys in the account shall be expended by the Commissioner of Early Childhood for the purposes of providing grants to competitive school districts to make slots available in school readiness programs. For purposes of this section, “competitive school district” means a school district described in subsection (d) of section 10-16p that has more than nine thousand students enrolled in schools in the district.