I. There is hereby established in the state treasury the wireless deployment grant fund. The fund shall be kept separate and distinct from all other funds and shall be nonlapsing and continually appropriated to the commissioner of the department of business and economic affairs for the purposes of this subdivision. In addition to state appropriations, the department may accept gifts, grants, and donations for deposit into the fund.
II. Federal funds received by the state for the purposes of expanding or improving Internet access or wireless connectivity may be credited to the wireless deployment grant fund.