9. a. There is established in the Department of the Treasury a nonlapsing revolving fund to be known as the “New Jersey Spinal Cord Research Fund.” This fund shall be the repository for moneys provided pursuant to subsection e. of R.S.39:5-41. Moneys deposited in the fund, and any interest earned thereon, shall be used exclusively for the purpose of making grants for approved spinal cord research projects at qualified research institutions.

b. Any costs incurred by the department in the collection or administration of the fund may be deducted from the funds deposited therein, as determined by the Director of the Division of Budget and Accounting.

L.1999,c.201,s.9.