Boiler and elevator revolving fund; establishment; purpose

(a) There is established in the state treasury the boiler and elevator revolving fund, into which shall be deposited all fees collected pursuant to section 397-5 and any appropriation from the legislature. All interest and investment moneys earned on any moneys in the revolving fund shall become part of the revolving fund. (b) The purpose of the revolving fund is to provide for sufficient operating costs to carry out the purposes of this chapter. Moneys in the fund may be expended for: (1) Personnel and operating expenses; (2) Staff training and staff certification fees and expenses; (3) Preparation and dissemination of public information on safe installation and use of equipment regulated by this chapter; (4) Preparation of annual reports to the legislature as required by this chapter; and (5) Reimbursement to the general fund as required by this section. (c) The director shall submit a report to the legislature on the status of the boiler and elevator revolving fund, including expenditures and program results, not less than twenty days prior to the convening of each regular session. (d) No later than thirteen years from the date of the establishment of the revolving fund, the director shall reimburse the general fund for the amount of any initial appropriation that was made by the general revenues of the State to the revolving fund.