(a) A fee collected by the department under this chapter shall be deposited in the state treasury to the credit of the bicycle safety fund. The department by rule may establish a procedure to allow an educational institution, state agency, local government, or nonprofit organization interested in bicycle safety to retain an amount from the fees collected to cover actual and necessary expenses.
(b) The fund may be used by the department only to:
(1) defray the costs of administering this chapter;
(2) provide a bicycle training course for a child younger than 10 years of age who comes from a low income family; and
(3) if funding permits, assist children from low income families in purchasing bicycle helmets.