Section 97-HH. Tuition reimbursement fund

1. There is hereby established in
  the  joint  custody  of the comptroller and the commissioner of taxation
  and finance a fund to be known as the "tuition reimbursement fund".
    2. There is hereby established in the joint custody of the comptroller
  and the commissioner of taxation and finance two accounts of the tuition
  reimbursement fund to be known as:
    (a) the "tuition reimbursement account": for reimbursement of  tuition
  to  certain  students  of  proprietary  vocational  schools  pursuant to
  article one hundred one of the education law; and
    (b) the  "proprietary  vocational  school  supervision  account":  for
  services   and  expenses  related  to  the  supervision  of  proprietary
  vocational schools pursuant to article one hundred one of the  education
  law.
    3.  (a)  Notwithstanding  any  other  law,  rule, or regulation to the
  contrary, the state comptroller is hereby  authorized  and  directed  to
  receive  for  deposit  to  the  credit  of  the  accounts established in
  subdivision two of this section moneys collected pursuant to article one
  hundred one of the education law including,  but  not  limited  to,  all
  fees,  assessments,  penalties,  fines,  and settlements relating to the
  supervision of  proprietary  vocational  schools  received  after  April
  first,  nineteen  hundred  ninety pursuant to such article and all other
  moneys credited or transferred to such accounts from any other  fund  or
  source pursuant to law.
    (b)  The  comptroller  is  hereby  authorized  and  directed to permit
  interest earnings on any account balances  on  accounts  established  in
  subdivision  two of this section to accrue to the benefit of each of the
  accounts.
    4. Monies of the accounts  established  in  subdivision  two  of  this
  section,  following appropriation by the legislature, shall be available
  to the education department and may be expended pursuant to article  one
  hundred  one  of  the  education  law.  Monies shall be paid out of such
  accounts on the audit and warrant of the state comptroller  pursuant  to
  such article.