(a) There is hereby created as a separate and distinct fund in the Treasury of the Virgin Islands, the St. Croix Capital Improvement Fund. All monies deposited in such fund shall be appropriated by law exclusively for capital improvement projects on the island of St. Croix, and such monies shall remain available until expended for the purposes for which they are appropriated.
(b) The fund shall consist of all sums appropriated thereto from time to time by the Legislature, and all gifts, contributions and bequests of all monies made thereto, all of which shall remain available until expended.
(c) Commencing two years after the date of enactment of this section, the Fund shall also consist of an annual appropriation of $2,000,000 from the Internal Revenue Matching Fund.