1. a. There is hereby created in the Department of Agriculture a non-lapsing revolving fund to be known as the “Nourishing Young Minds Initiative Fund,” which shall be held separate and apart from all other funds of the State. All monies appropriated annually by the Legislature, federal and other grants received by the State, and any other monies made available for the purposes of the fund shall be deposited in the fund.

Monies deposited in the fund shall be held in interest-bearing accounts in public depositories, as defined pursuant to section 1 of P.L.1970, c.236 (C. 17:9-41), and may be invested or reinvested in such securities as are approved by the State Treasurer. Interest or other income earned on monies deposited in the fund shall be credited to the fund for use as set forth in subsection b. of this section for other monies in the fund.

b. Monies in the “Nourishing Young Minds Initiative Fund” shall be used by the Department of Agriculture to provide support and funding to child food and nutrition programs in the State, which may include:

(1) funding outreach and programmatic support by the Department of Agriculture, Department of Education, or community-based organizations;

(2) providing small grants to fu

(3) providing small grants to fund one-time startup or expansion costs of summer nutrition programs.

c. Funding shall be prioritized for award to districts or schools with the highest number of eligible students and lowest participation in the school breakfast program.

d. The Secretary of Agriculture, in consultation with the Department of Education, may adopt, pursuant to the “Administrative Procedure Act,” P.L.1968, c.410 (C. 52:14B-1 et seq.), rules and regulations necessary for the implementation of this act.

L.2017, c.132, s.1.