5. There is established in the Department of Environmental Protection a nonlapsing, revolving fund, to be known as the “well sealing fund.” All penalties collected by the department for violations of sections 2 and 3 of P.L.1951, c.193 (C. 58:4A-4.1 and C. 58:4A-4.2), and all monies recovered by the department pursuant to section 4 of P.L.1995, c.312 (C. 58:4A-4.2a), shall be deposited into the “well sealing fund.” The fund shall be utilized solely for the purpose of administering and conducting a well sealing program as provided in section 4 of P.L.1995, c.312 (C. 58:4A-4.2a).

L.1995,c.312,s.5.