(a) The governor's university research initiative fund is a dedicated account in the general revenue fund.
(b) The fund consists of:
(1) amounts appropriated or otherwise allocated or transferred by law to the fund;
(2) money deposited to the fund under Section 62.166 of this subchapter or under Section 490.101(b-1), Government Code; and
(3) gifts, grants, and other donations received for the fund.
(c) The fund may be used by the office only for the purposes of this subchapter, including for necessary expenses incurred in the administration of the fund and this subchapter.