3. There is hereby established in the Department of the Treasury a special, nonlapsing fund to be known as the Federal Elections Assistance Fund.
The fund is established in accordance with paragraph (b) of section 254 of Pub.L.107-252, (42 U.S.C.15404) for the purpose of receiving:
a. all moneys appropriated or otherwise made available by the State for the purpose of carrying out the activities required by Pub.L.107-252;
b. all payments which will be received from the federal government pursuant to Pub.L.107-252;
c. interest earned on deposits made in the fund; and
d. such other additional amounts as may be appropriated under federal or State law.
The State Treasurer is authorized to transfer into the fund in a timely manner such State moneys as will be necessary to insure that the State qualifies for the maximum amount of federal funds appropriated to implement Pub.L.107-252.