Section 67. (a) There shall be established and set up on the books of the commonwealth a separate fund to be known as the Commonwealth Security Trust Fund. There shall be credited to said fund revenues received from the sale of United We Stand distinctive registration plates and interest earnings thereon issued pursuant to section 2E of chapter 90.

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(b) There shall be a board of trustees of the Fund which shall consist of the secretary of public safety; the secretary of health and human services; the registrar of motor vehicles; and the following individuals to be appointed by the governor: 2 representatives from the law enforcement community; 2 representatives from the firefighting community and 2 relatives of Massachusetts victims of the September 11, 2001 terrorist attack on America. The secretary of public safety shall serve as chair of the board of trustees. The board of trustees shall adopt operating rules and procedures for its organization and activities and shall submit such rules and procedures in writing to the house and senate committees on ways and means and the secretary of administration and finance. The board shall serve without compensation.

(c) Amounts credited to the Commonwealth Security Trust Fund and interest earnings thereon shall be available for expenditure and not subject to appropriation at the direction of the chair of the board of trustees upon the approval of the board for the following purposes: (i) for providing grants to local police and fire departments for the purpose of enhancing emergency response, including responses to acts of terrorism; (ii) toward the design, construction and maintenance of a law enforcement memorial dedicated to Massachusetts law enforcement officers killed in the line of duty; and (iii) toward the design, construction and maintenance of a firefighters memorial dedicated to Massachusetts firefighters killed in the line of duty.