(1) There is 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 “Development and Enhancement Fund”.
(2) The Development and Enhancement Fund shall consist of those special revenues specified in § 19-6-301(171) and any other funds made available by the General Assembly from time to time.
(3) The Development and Enhancement Fund shall be used to provide financing of various projects authorized by the General Assembly and to make temporary loans or provide funding for appropriations authorized by the General Assembly.
(4) The Development and Enhancement Fund shall be the successor fund to the General Improvement Fund for the payment of any outstanding balances, warrants, and reappropriations enacted by the General Assembly previously payable from the General Improvement Fund.