(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 miscellaneous fund to be known as the “Workforce Initiative Act of 2015 Fund”.
(2) The fund shall consist of those general revenues as may be authorized by law and other nonfederal funds as may be provided by law.
(3) The fund shall be used by the Division of Higher Education for distributing grants to programs identified under § 6-60-107.