There is created within the road fund the highway construction contingency account. The account shall consist of moneys appropriated to the account by the General Assembly. The Transportation Cabinet may transfer money from the highway construction contingency account to a highway construction project, for expenditure thereon. These moneys may be authorized by the secretary of the Transportation Cabinet for:
(1) Projects of an emergency nature;
(2) Promotion of economic or industrial development;
(3) Relief of a hazardous condition;
(4) Other purposes that the secretary determines to be a priority;
(5) Provision of required state match for any unanticipated federal funds made available by the Federal Highway Administration to the Commonwealth as a result of other states not utilizing their total federal obligation;
(6) The funding of any nonfederal share of a project in a previous or the current biennial highway construction programs that exceeds its cost estimate;
(7) The nonfederal share of federal emergency highway projects, federal discretionary projects, and federal demonstration projects; and (8) The nonfederal share of projects due to an increase in the federal apportionment or federal obligation limits.