A. The liquor licenses fund is established consisting of monies deposited pursuant to sections 4-115, 4-116.01, 4-401 and 4-402. The department shall administer the fund. The amount deposited in the fund each year shall not exceed the amount appropriated by the legislature.
B. Monies in the fund are subject to legislative appropriation.
C. Monies in the fund are exempt from the provisions of section 35-190 relating to lapsing of appropriations, except that any monies remaining in the fund on December 31 of each year that are in excess of $700,000 revert to the state general fund.