The Arkansas Public Service Commission may:
(1) Advise, consult, contract, and cooperate with any agency of the federal government, the State of Arkansas, or any other state in projects of common interest of the regulations of safety of pipeline facilities and transportation of gas and administer the authority delegated to the commission by contract with the federal government or any agency thereof including the authority to participate in the enforcement of federal standards applicable to interstate transmission facilities, as defined in § 23-15-203, as an agent of any agency of the state or federal government; and
(2) Accept, receive, apply for, or administer grants or other funds or gifts from public or private agencies, including the federal government, or from any other person.