(a) A special fund to be known as the private donor research fund is created in the state treasury.
(b) The fund shall be administered by the State Board of Education.
(c) Biennially, the legislature may appropriate general revenue to the fund in an amount not to exceed the amount of donations to the fund during the preceding biennium.
(d) In addition to donations from private sources and appropriations by the legislature, the board shall solicit money for the fund from the federal government.