(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 “Inventors’ Assistance Program Fund”.
(2) The Inventors’ Assistance Program Fund shall consist of all moneys received by the Center for Prototype Development and Emerging Technologies to be developed and operated by the University of Arkansas at Little Rock for implementation of the Inventors' Assistance Act, § 15-4-1401 et seq., and all fees received pursuant to the Inventors’ Assistance Act, § 15-4-1401 et seq., there to be used for the implementation of the Inventors’ Assistance Act, § 15-4-1401 et seq.
(3) Any amount in the Inventors’ Assistance Program Fund not directly needed for implementation of the Inventors’ Assistance Act, § 15-4-1401 et seq., shall be transferred to the General Revenue Fund Account of the State Apportionment Fund.