A. There is hereby created in the State Treasury a fund for the Oklahoma Commission on Children and Youth to be designated the “Children's Endowment Fund of Oklahoma”. The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies received through donations or interest earned by investment of monies in the fund. The fund shall be invested by the State Treasurer in accordance with Section 89.2 of Title 62 of the Oklahoma Statutes.

B. Funds deposited into the Children's Endowment Fund of Oklahoma and any earnings therefrom, including any interest, dividends or realized capital gains from investment of monies in the fund, shall be administered by the Oklahoma Commission on Children and Youth for the purpose of awarding grants in order to stimulate a broad range of innovative programs, activities or research or evaluation that will improve the well-being and reduce the adverse childhood experiences of Oklahoma's children. The funds shall not be used to expand existing services or to support ongoing core services. The Commission may also direct the State Treasurer to reinvest any earnings into the corpus of the fund.

C. The Oklahoma Commission on Children and Youth shall promulgate rules to:

D. The Oklahoma Commission on Children and Youth shall use up to ten percent (10%) of the funds deposited in the Children's Endowment Fund of Oklahoma to be available to the Commission in any given fiscal year to provide administration, oversight, training or evaluation of the grantees.

E. Monies from the fund may be expended by the Oklahoma Commission on Children and Youth in accordance with the provisions of this section upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment.”