(a) An inmate of the Department of Correction or Department of Community Correction who is earning at least minimum wage and is employed under §§ 12-30-501 and 12-30-502 shall have his or her wages set aside in a separate wage fund by the warden or supervisor of the facility in which the inmate is incarcerated.

(b) The Director of the Department of Correction and the Director of the Department of Community Correction shall promulgate rules that:

(1) Protect the inmate's rights to due process;

(2) Provide for hearings as necessary before the Crime Victims Reparations Board; and

(3) Govern the disposition of an inmate's gross monthly wage, minus required payroll deductions and payment of necessary work-related incidental expenses, for the following purposes:

(A) To support the family and dependent relatives of the inmate;

(B) To discharge any legal obligations, including judgments for restitution;

(C) To pay all or a part of the cost of the inmate's board, room, clothing, medical, dental, and other correctional services;

(D) To provide for funds payable to the inmate upon his or her release;

(E) To reimburse the state for the actual value of state property intentionally or willfully and wantonly destroyed by the inmate during his or her incarceration;

(F) To reimburse the state for reasonable costs incurred in returning the inmate to the facility to which he or she was incarcerated in the event of escape; and

(G) To deposit an appropriate amount into the Crime Victims Reparations Revolving Fund.