Grid modernization grant fund; created.

The "grid modernization grant fund" is created in the state treasury. The fund consists of appropriations, gifts, grants and donations. The energy, minerals and natural resources department shall administer the fund, and money in the fund is subject to appropriation by the legislature to the department for the purpose of administering the grid modernization grant program. Disbursements from the fund shall be made upon warrants drawn by the secretary of finance and administration pursuant to vouchers signed by the secretary of energy, minerals and natural resources or the secretary's designee. Any unexpended and unencumbered balance in the fund remaining at the end of any fiscal year shall not revert to the general fund.