(1) There is created a segregated account within the state treasury to be known as the “coal mining protection fund.” Monies shall be deposited to the fund pursuant to §§ 59-8-107, 59-8-117, and 67-7-110, and shall be invested for the benefit of the fund pursuant to § 9-4-603.
(2) The moneys in the coal mining protection fund shall be used for the administration and enforcement of the requirements of this part.
(3) All fees and penalties collected by the commissioner pursuant to this part shall be deposited by the state treasurer into the coal mining protection fund, created in subsection (a), and shall be used by the commissioner to defray expenses necessary to administer this part. Unexpended and unobligated fees remaining in this account at the end of any fiscal year shall not revert to the general fund but shall remain available for the purposes set forth in this part.