(1) There is hereby established the Idaho launch grant program to be administered by the council according to the provisions of this section. The purpose of the program is to provide education grants for eligible students.
(2)  In order to administer the program, the council shall consult with necessary agencies to:
(a)  Create and administer, or designate a third party to create and administer, a grant distribution platform;
(b)  Establish a grant application process for eligible students. To ensure eligible students receive notification prior to postsecondary institution enrollment deadlines, the council may stagger applications so that initial grant awards are announced by December 31 in the year preceding an eligible student’s graduation from high school and that additional grant awards be made no later than June 1 of the academic year the eligible student graduates from high school;
(c)  Award grants to eligible students, subject to legislative appropriation and to the following conditions:
(i)   If eligible student applications exceed available funding in a fiscal year, grant awards shall be prioritized first based on the pursuit of in-demand careers. If additional funds remain, prioritization shall then be based on financial need; and
(ii)  If available funding in a fiscal year exceeds eligible students, any unused appropriations may be used in accordance with section 72-1206(4), Idaho Code; and
(d)  Take other such actions as are necessary to implement and enforce the provisions of this section.
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Terms Used In Idaho Code 72-1205

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(3)  Participants must expend all grant funds within three (3) years of the award date. Any remaining funds after a break in enrollment exceeding six (6) months or unused funds at the end of the three (3) year period shall revert to the in-demand careers fund established in section 72-1206, Idaho Code. The council or its designated staff may grant an extension or exception by demonstrating to the council an extenuating circumstance, including but not limited to religious service, military service, structured volunteer service, or health or medical issues.
(4)  No more than one half (1/2) of the initial grant award may be expended by a participant in any academic year; provided, however, that this subsection shall not apply:
(a)  To a participant in a program that is less than twelve (12) months in length; or
(b)  In other extenuating circumstances as determined by the council.
(5)  Grant awards shall be capped at one (1) grant per eligible student.
(6)  The council shall adopt policies outlining triggering events that may lead to earlier reversion of student grants or repayment grants, including but not limited to unsatisfactory academic progress, expulsion, or transfer to an out-of-state program prior to attainment of a credential or degree. Any reverted or repaid grants shall be paid to the in-demand careers fund established in section 72-1206, Idaho Code.
(7)  The provisions of this section shall be null, void, and of no force and effect on and after July 1, 2029.