Section 28-2470.16 - Tribally accredited institution of higher education special plates; fundA. If, by December 31, 2022, a person pays $32,000 to the department for the implementation of this section, the department shall issue tribally accredited institution of higher education special plates. The person that provides the $32,000 shall design the tribally accredited institution of higher education special plates. The design and color of the tribally accredited institution of higher education special plates are subject to the approval of the department. The director may allow a request for tribally accredited institution of higher education special plates to be combined with a request for personalized special plates. If the director allows such a combination, the request shall be in a form prescribed by the director and is subject to the fees for the personalized special plates in addition to the fees required for the tribally accredited institution of higher education special plates.B. Of the $25 fee required by section 28-2402 for the original special plates and for renewal of special plates, $8 is a special plate administration fee and $17 is an annual donation.C. The department shall deposit, pursuant to sections 35-146 and 35-147, all special plate administration fees in the state highway fund established by section 28-6991 and all donations collected pursuant to this section in the tribally accredited institution of higher education special plate fund established by this section.D. The tribally accredited institution of higher education special plate fund is established consisting of monies deposited pursuant to this section. The director shall administer the fund. The first $32,000 in the fund shall be reimbursed to the person that paid the implementation fee to the department pursuant to subsection A of this section. Not more than ten percent of the monies deposited in the fund annually shall be used for the cost of administering the fund. Monies in the fund are continuously appropriated.E. The director shall annually allocate monies from the fund to a tribally accredited institution of higher education in this state. The tribally accredited institution of higher education must:1. Be a charitable organization that is qualified under section 501(c)(3) of the internal revenue code for federal income tax purposes.2. Operate exclusively for educational and charitable purposes.3. Be the first tribal college in the United States.F. On notice from the director, 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. Added by L. 2022, ch. 248,s. 3, eff. 9/23/2022.