(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 “Reward Pool Fund”.
(2) The fund shall consist of all monetary donations or gifts made by private citizens and corporations.
(3) The fund shall be used for the payment of rewards or enhancing state-funded rewards for information leading to the arrest of persons committing arson, as administered by the Governor and as set out in § 5-38-301.