(1) There shall be an account in the state special revenue fund known as the wheat and barley account. The following shall be placed in the account:
(a) the proceeds of all millage levies collected under this part; and
(b) the proceeds from all gifts, grants, or donations to the department for research authorized under this part.
(2) The account shall be maintained for the purposes of this part and shall be separate from all other accounts of the department.
(3) The department may direct the board of investments to invest funds from the account pursuant to the provisions of the unified investment program for state funds. The income from such investments shall be credited to the wheat and barley account.