(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 miscellaneous fund to be known as the “Arkansas Industrial Hemp Program Fund”.
(b) The fund shall consist of:
(1) Fees collected under the Arkansas Industrial Hemp Act, § 2-15-401 et seq.;
(2) Gifts, grants, and other funds both public and private; and
(3) Other revenues as may be authorized by law.
(c) Any unallocated or unencumbered balances in the fund shall be invested in the fund, and any interest or other income earned from the investments, along with the unallotted or unencumbered balances in the fund, shall not lapse but shall be carried forward for purposes of the fund and made available solely for the purposes and benefits of the industrial hemp research program under the Arkansas Industrial Hemp Act, § 2-15-401 et seq.