§ 12304 Federal Funds For Schools

• •Money from certain federal bonuses, royalties, or rentals belongs to the state.
• •The State Treasurer is in charge of receiving that money.
• •The Treasurer must pass the money on to public schools and community colleges according to the rules in sections 12303‑12307.

The federal government pays the state a royalty from a national oil lease. The money goes to the State Treasurer, who then sends it to the local public schools and community colleges.

The state receives the royalty money, the treasurer holds it, and then distributes it to the schools as the law requires.