(a) The WV Invests Fund is hereby created in the State Treasury as a special revenue account. The fund shall be administered by the vice chancellor for administration and may consist of:
(1) All appropriations by the Legislature for the WV Invests Fund;
(2) Any gifts, grants, or contributions received for the WV Invests Fund; and
(3) All interest or other income earned from investment of the WV Invests Fund.
(b) The WV Invests Fund shall be expended for the purpose of administering the WV Invests Grant Program, including the awarding of grants authorized by this article. Any funds remaining in the fund at the close of the fiscal year are carried forward for use in the next fiscal year.
(c) Nothing in this section requires any specific level of funding by the Legislature nor guarantees or entitles any individual to any benefit or grant of funds.