The State accepts the benefits of the federal Carl D. Perkins Career and Technical Education Act of 2006 (Perkins IV) [20 U.S.C. § 2301 et seq.], and any subsequent reauthorization thereof, and subject to its requirements and any implementing regulations thereto. The State Treasurer shall be the custodian of any funds accruing to the State from the aforesaid Act and shall make disbursements therefrom upon the order of the Department of Education.