(a) There is hereby established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the Petroleum Storage Tank Trust Fund.
(b) Such fund shall consist of the petroleum environmental assurance fees as provided in § 8-7-906, all other fees assessed under § 8-7-901 et seq., gifts, grants, donations, such other funds made available by the General Assembly, the excess of a reserve of two (2) months requirements of debt service from fees in the Petroleum Storage Tank Trust Fund Revenue Bond Debt Service Fund, § 15-5-1206, and any moneys recovered by the Arkansas Department of Environmental Quality which are attributable to collections of civil penalties under § 8-7-806 or to costs under § 8-7-807 not owed the Regulated Substance Storage Tank Program Fund, there to be administered by the Director of the Arkansas Department of Environmental Quality, who shall make disbursements from the fund as authorized by § 8-7-901 et seq.
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