A. There is hereby created in the State Treasury a revolving fund for the Department of Labor to be designated as the “Compressed Natural Gas Conversion Safety and Regulation Fund”. The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies received by the Department of Labor pursuant to Section 2357.22 of Title 68 of the Oklahoma Statutes.

B. All monies accruing to the credit of the revolving fund shall be expended by the Department of Labor to inspect, regulate and enforce safety regulations of the conversion of motor vehicles for operation on compressed natural gas.

C. Expenditures from the revolving fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment.