(1) There is established and created a trust and agency account entitled the "Kentucky enterprise fund" for the purpose of enabling small or medium-size, Kentucky-based companies to undertake feasibility, concept development, research and development, or commercialization work.
(2) The Kentucky enterprise fund may receive moneys from any public or private source, including but not limited to general fund appropriations of the Commonwealth, grants, or contributions of money, property, labor, or other things of value to be used to carry out the fund's operations, functions, and responsibilities, and to otherwise make investments.
(3) The Kentucky enterprise fund shall also receive moneys transferred from the Kentucky rural innovation fund under KRS 164.6027, the Kentucky commercialization fund under KRS 164.6035, and the Kentucky alternative fuel and renewable energy fund under KRS 154.20-410.
(4) Any unallocated or unencumbered balances in the fund shall be invested as provided in KRS 42.500(9), and any income earned from the investments along with the unallotted or unencumbered balances in the fund shall not lapse, and shall be made available solely for the purposes and benefits of the Kentucky enterprise fund.