(1) The Oil and Hazardous Material Transportation by Rail Action Fund is established in the State Treasury, separate and distinct from the General Fund. The Oil and Hazardous Material Transportation by Rail Action Fund shall consist of all moneys placed in the fund as provided by law and any gifts, grants, donations, endowments or bequests from any public or private source. Interest earned by the fund shall be credited to the fund.
(2) All moneys in the fund are continuously appropriated to the Department of the State Fire Marshal only for the payment of costs associated with the development and effective implementation of the plan adopted under ORS 453.392 for the coordinated response to oil or hazardous material spills or releases that occur during rail transport.