§ 96. The World Trade Center memorial scholarship fund. 1. There is hereby established, in the joint custody of the commissioner of taxation and finance and the comptroller, a special fund to be known as the World Trade Center memorial scholarship fund.

2. Such fund shall consist of all revenues received pursuant to the provisions of section four hundred four-ee of the vehicle and traffic law and all other moneys appropriated, credited, or transferred thereto from any other fund or source pursuant to law. Nothing contained in this section shall prevent the state from receiving grants, gifts, or bequests for the purposes of the fund, as defined in this section, and depositing them into the fund according to law.

3. Monies of the fund shall be expended only for scholarships awarded pursuant to sections six hundred eight and six hundred sixty-eight-d of the education law.

4. Monies shall be payable from the fund on the audit and warrant of the comptroller on vouchers approved and certified by the commissioner of education.

5. To the extent possible, the commissioner of education shall ensure that all monies received during a fiscal year are expended prior to the end of that fiscal year.