All sums of money that the State receives from the United States under the provisions of section 701c-3 of Title 33 of the United States Code, as the same may be amended, being a portion of the rentals of property acquired and owned by the United States for purposes of flood control dams and reservoirs, shall be distributed to the municipality or political subdivision in which the dams and reservoirs are located. The Department shall administer payment of money so received and the Commissioner of Finance and Management shall issue his or her warrants on orders of the Department. (Added 1959, No. 35, § 1, eff. March 12, 1959; amended 1959, No. 328 (Adj. Sess.), § 8; 1961, No. 100, § 2; 1981, No. 242 (Adj. Sess.), § 17; 1983, No. 195 (Adj. Sess.), § 5(b).)