1. The Southern Nevada Enterprise Community Projects Account is hereby created in the State General Fund. The interest and income earned on the money in the Account, after deducting any applicable charges, must be credited to the Account.
2. The Southern Nevada Enterprise Community Board shall administer the Account and may accept gifts, grants and other money for deposit in the Account.
3. The money in the Account may only be used to fund projects in the Southern Nevada Enterprise Community and is hereby authorized for expenditure as a continuing appropriation for this purpose.