Section 342.122 - National Board Certification Fund; rules(1) There is created the National Board Certification Fund, separate and distinct from the General Fund. Interest earned on moneys in the National Board Certification Fund shall be credited to the fund.(2) The National Board Certification Fund shall include any state or federal moneys made available to the fund, including moneys appropriated by the Legislative Assembly and federal moneys made available to improve teacher quality through professional development. The Teacher Standards and Practices Commission may accept from any source any grant, donation or gift of money or other valuable thing made to the commission for purposes of the fund.(3) Moneys credited to the National Board Certification Fund are continuously appropriated to the commission for the purposes set forth in subsections (4) and (5) of this section. The commission may draw checks or orders upon the State Treasurer in making disbursements from the fund for the purposes stated in this subsection.(4) Moneys in the National Board Certification Fund shall be used to encourage at least 150 public school teachers in this state to apply for and attain certification each biennium through the National Board for Professional Teaching Standards or any other national professional organization for teaching standards designated by the Teacher Standards and Practices Commission.(5) The Teacher Standards and Practices Commission may disburse moneys from the National Board Certification Fund to applicants for assistance with the direct costs of seeking and obtaining national board certification, including reimbursement for the costs of each of the components necessary for certification and reimbursement for costs related to participating in a cohort for certification. The commission may retain no more than 10 percent of all moneys received under this section during a biennium from state and federal sources for the purpose of paying administrative expenses incurred by the commission under this subsection.(6) The Teacher Standards and Practices Commission shall adopt rules that govern the disbursement of moneys from the National Board Certification Fund consistent with this section, including requirements that recipients of disbursements must be licensed by the commission and employed with a public educational program in this state.Amended by 2017 Ch. 662, § 1, eff. 1/1/2018, op. 7/1/2018.2001 c.381 §2; 2011 c. 609, § 6 342.122 was added to and made a part of 342.120 to 342.430 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.