A. The cotton research and protection council fund is established for the purpose of administering this article. The council shall administer the fund. The fund consists of penalties, fees and other income collected pursuant to this article.

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B. The director may request the use of fund monies for the nuisance abatement of upland cotton fields as provided for under the abatement provisions of sections 3-204, subsection G and 3-205, subsection G and the plow up of cotton fields under Section 3-204.01. Monies distributed pursuant to this subsection shall be repaid to the fund within one calendar year after their disbursement, but the council may extend the repayment period at its discretion and set the terms and conditions for repayment. The council may waive repayment of fund monies by the department.

C. The council may deposit monies from fees assessed pursuant to section 3-1086 in the fund.

D. The monies in the fund may be invested pursuant to section 35-313. Interest earned on these monies shall be credited to the fund.