(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a trust fund to be known as the “Policemen's Pension Supplement Program Fund”.
(b) The fund shall consist of that portion of those unallocated premium taxes levied on insurers for the support of police retirement programs as provided in § 24-11-211.
(c) The fund shall be used for providing financial assistance to certain retired police officers and their survivors who are receiving pensions from policemen's pension and relief funds as provided in § 24-11-211.