[§27-75]  Broadband revolving fund.  (a)  There is established in the state treasury the broadband revolving fund to be administered by the broadband office, into which shall be deposited:

     (1)  Proceeds of leases of broadband infrastructure owned by the State;

     (2)  Appropriations by the legislature to the revolving fund; and

     (3)  Gifts, donations, and grants from public agencies and private persons.

All interest earned or accrued on moneys deposited into the revolving fund shall become a part of the revolving fund.

     (b)  Moneys in the broadband revolving fund shall be used for:

     (1)  Supporting broadband projects, excluding the deployment of broadband infrastructure for the provision of retail service;

     (2)  Defraying the cost of internet services; and

     (3)  Funding positions for personnel to provide technical assistance to the community.

     (c)  Expenditures from the broadband revolving fund shall be made by the broadband office, advised by the information technology steering committee and subject to prior approval by the comptroller. [L 2025, c 201, pt of §1]