(a) The derelict vessel prevention program fund is created in the general fund. The purpose of the fund is to provide a source from which the department may
(1) reimburse state agencies and municipalities for expenses related to removal of derelict vessels from waters of the state and from state or municipal property;
(2) pay for development and implementation of programs that incentivize compliance with this chapter;
(3) subsidize projects directly related to the derelict vessel prevention program; and
(4) pay the costs of administering the fund.
(b) The fund consists of money appropriated to the fund, including
(1) donations;
(2) money received from the sale of a vessel under this chapter;
(3) income from the fund and other program receipts;
(4) money collected under AS 05.25.096(a)(5) and (6);
(5) civil penalties collected under AS 30.30.015.
(c) Appropriations to the derelict vessel prevention program fund do not lapse.
(d) Money appropriated to the fund may be used by the department for the purposes of the fund without further appropriation.
(e) Nothing in this section creates a dedicated fund.
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