MO SB976

Creates the "Race to the Top Fund" in the state treasury to hold all moneys awarded to Missouri under the federal Race to the Top Program established by the American Recovery and Reinvestment Act of 2009.

Designates the state treasurer as custodian of the fund and requires funds be used solely for administration of the Race to the Top program, with any remaining balance reverting to the general revenue fund at the end of the biennium.

Requires the commissioner of education to present the proposed distribution of Race to the Top funds to the Joint Committee on Education before any funds are distributed.

Grants the Joint Committee on Education authority to review and approve by majority vote the distribution of all Race to the Top funds received by the state.

Declares section A of the bill an emergency measure effective upon passage and approval to ensure proper receipt and accounting of federal Race to the Top moneys.