(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 special revenue fund to be known as the “Division of Aeronautics Fund”.
(b) The fund shall consist of those special revenues as specified in § 19-42-201(17).
(c) The fund shall be used by the Division of Aeronautics for:(1) Distributing grants-in-aid to qualifying airports of the state as authorized by law;(2) Distributing grants to qualifying applicants as determined by the Director of the Division of Aeronautics and the Aeronautics Commission for any purpose related to:(A) The development of aeronautics;(B) The promotion of aeronautics; or(C) Aviation education;(3) The maintenance, operation, and improvement required in carrying out the functions, powers, and duties set out in § 27-114-101 et seq.; or(4) Carrying out other duties imposed by law upon the division, including without limitation the duties set out in § 27-115-110.
(1) Distributing grants-in-aid to qualifying airports of the state as authorized by law;
(2) Distributing grants to qualifying applicants as determined by the Director of the Division of Aeronautics and the Aeronautics Commission for any purpose related to:(A) The development of aeronautics;(B) The promotion of aeronautics; or(C) Aviation education;
(A) The development of aeronautics;
(B) The promotion of aeronautics; or
(C) Aviation education;
(3) The maintenance, operation, and improvement required in carrying out the functions, powers, and duties set out in § 27-114-101 et seq.; or
(4) Carrying out other duties imposed by law upon the division, including without limitation the duties set out in § 27-115-110.