(a) There is hereby created in the state treasury the Kansas pesticide waste disposal fund. All moneys credited to the Kansas pesticide waste disposal fund shall be used by the secretary of agriculture for the Kansas pesticide waste disposal program established by Kan. Stat. Ann. § 2-3715, and amendments thereto. All expenditures from the Kansas pesticide waste disposal fund shall be made in accordance with appropriation acts upon warrants of the director of accounts and reports issued pursuant to vouchers approved by the secretary of agriculture.

(b) The Kansas agricultural remediation board may approve an annual transfer of moneys from the Kansas agricultural remediation fund to the Kansas pesticide waste disposal fund in an amount that shall not exceed $50,000 per calendar year. Upon such approval, the director of accounts and reports shall transfer such approved moneys from the Kansas agricultural remediation fund to the Kansas pesticide waste disposal fund.

(c) On or before January 1 of each year, the secretary of agriculture shall submit to the Kansas agricultural remediation board a report concerning the annual expenditures made from the Kansas pesticide waste disposal program.

(d) On or before the 10th day of each month, the director of accounts and reports shall transfer from the state general fund to the Kansas pesticide waste disposal fund interest earnings based on:

(1) The average daily balance of moneys in the Kansas pesticide waste disposal fund for the preceding month; and

(2) the net earnings rate of the pooled money investment portfolio for the preceding month.