The Water Transportation Advisory Board shall:
(1) Advise the Transportation Cabinet, the Cabinet for Economic Development, the Governor's Office, and the General Assembly on matters relating to water transportation;
(2) Recommend action to enable the Commonwealth to make best use of its waterways and riverports for future economic growth;
(3) Assist in defining the duties and functions of positions within state government responsible for water transportation;
(4) Recommend criteria for setting priorities for funding riverport marketing initiatives;
(5) Evaluate applications submitted by riverports for grants under the riverport marketing assistance trust fund and make recommendations to the granting authority on the disbursement of those funds;
(6) Recommend criteria for setting priorities for funding riverport improvements under the riverport financial assistance trust fund established in KRS 174.210; and (7) Evaluate applications submitted by riverports for grants under the riverport financial assistance trust fund and make recommendations to the granting authority on the disbursement of those funds.