A. There is hereby created in the State Treasury a revolving fund to be designated as the "Oklahoma Route 66 Commission Revolving Fund", which shall consist of all monies appropriated, transferred, or otherwise designated to the fund by law. The revolving fund shall be a continuing fund, not subject to fiscal year limitations, and shall be under the administration of the Oklahoma Route 66 Commission. All monies accruing to the credit of said fund are hereby appropriated, and shall be budgeted and expended in accordance with the provisions of subsection B of this section for the purpose of preserving and developing Route 66 and commemorating the Route 66 Centennial. B. Funds shall be budgeted or expended from the Oklahoma Route 66 Commission Revolving Fund in accordance with rules adopted by the Commission. C. The Oklahoma Route 66 Commission shall promulgate, pursuant to the provisions of the Administrative Procedures Act, permanent rules subject to approval by the Legislature, to implement: 1. Application procedures for projects submitting requests for funds; 2. Processes for awarding of funding applications; 3. Details of the Commission's general duties; 4. Reporting requirements of the Commission to the Legislature; and 5. Any other rules necessary to carry out the purpose and mission of the Commission as expressed in this act. D. All unencumbered funds remaining in the Oklahoma Route 66 Commission Revolving Fund upon the expiration of the Oklahoma Route 66 Commission shall be transferred to the State Treasurer for deposit in the General Revenue Fund.
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