The Department shall use money in the Fund solely to administer and implement programs to oversee the drilling, development, production, and storage of oil and gas wells, and other requirements related to the drilling of oil and gas wells, including all costs incurred by the State to:
(1) Review, inspect, and evaluate monitoring data, applications, licenses, permits, analyses, and reports;
(2) Perform and oversee assessments, investigations, and research;
(3) Conduct permitting, inspection, and compliance activities; and
(4) Develop, adopt, and implement regulations, programs, or initiatives to address risks to public safety, human health, and the environment related to the drilling and development of oil and gas wells, including the method of hydrofracturing.