(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a miscellaneous fund to be known as the "Arkansas Port, Intermodal, and Waterway Development Grant Program Fund".
(b) The fund shall consist of:
(1) The funds specified under § 26-26-1616(d);
(2) Grants made by any person or federal government agency; and
(3) Any other funds authorized by law.
(c) The fund shall be used by the Arkansas Waterways Commission to provide grants to port authorities and intermodal authorities under the Arkansas Port, Intermodal, and Waterway Development Grant Program established under § 15-23-205.
(d) Any unexpended balance in the fund at the end of each state fiscal year shall be carried forward to the next fiscal year to be used for the same intent and purpose stated in this section.
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