(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a trust fund to be known as the “Corporate Income Tax Withholding Fund”.
(b) The Corporate Income Tax Withholding Fund shall consist of those general revenues transferred to the Corporate Income Tax Withholding Fund under the provisions of § 19-5-201 et seq. and those funds received from the Budget Stabilization Trust Fund as provided in § 19-5-501 et seq.
(c) The Corporate Income Tax Withholding Fund shall be used to make income tax refunds to corporate taxpayers in such amounts as may be determined by the Chief Fiscal Officer of the State or the courts and for repaying temporary loans made during each month from the Budget Stabilization Trust Fund, as may be required.