There is hereby created in the state treasury a special nonreverting fund to be known as the Abandoned Mine Land Grant Retention Fund, referred to in this section as “the Fund.” The Fund shall be established on the books of the Comptroller and shall be administered by the Director. All eligible designated funds received under § 40701 of the federal Infrastructure Investment and Jobs Act, P.L. 117-58, shall be paid into the state treasury and credited to the Fund and shall be the sole source for the Fund. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund. Moneys in the Fund shall be used solely for the purpose of carrying out the activities described in § 40701(c) of the federal Infrastructure Investment and Jobs Act, P.L. 117-58. Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the Director.