(1) There is created within the General Fund a restricted account known as the Boating Account.
(2) The restricted account shall consist of, except as provided under Sections 73-18-24 and 73-18-25, all registration fees and related money collected by the division or an authorized agent, less the costs of collecting motorboat and sailboat registration fees by an authorized agent.
(3) The amount retained by an authorized agent under Subsection (2) may not exceed 20% of the fees charged in Section 73-18-7.
(4) Money in the Boating Account may be used for:
(a) the construction, improvement, operation, and maintenance of publicly owned boating facilities;
(b) boater education; and
(c) the payment of the costs and expenses of the division in administering and enforcing this chapter.