(1) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a trust fund to be known as the “Water Performance Bond Fund”.
(2) The fund shall consist of the following: Funds appropriated by the General Assembly;
(3) All forfeitures collected under § 8-4-201 et seq.;
(4) Grants made by a person or the United States Government;
(5) Gifts and donations; and
(6) Interest earned on the moneys deposited into the fund.
(7) The fund shall be used by the Division of Environmental Quality to hire a third-party contractor to: Take remedial action, including without limitation corrective action, the closure of a nonmunicipal domestic sewage treatment works, and any other action the Director of the Division of Environmental Quality determines to be necessary; or
(8) Maintain and operate a nonmunicipal domestic sewage treatment works.