(1) To enter into agreements with the United States Department of Health and Human Services and the Secretary of the United States Department of Health and Human Services whereby the State Department for Social Security Administration Disability Determination, with respect to all individuals in this state, or with respect to such classes of individuals in this state as may be designated in the agreement, will, in the case of any individual, determine whether or not he or she is under a disability and of the day the disability began and of the day on which the disability ceased. For the purposes hereof, the term "disability" shall be as defined in any agreement or by applicable law;

(2) To accept and deposit in the State Treasury any funds from whatever source received and to withdraw therefrom such funds as may be required to carry out its functions, powers, and duties and, with respect thereto, to comply fully with the General Accounting and Budgetary Procedures Law, § 19-4-101 et seq., and the Arkansas Procurement Law, § 19-11-201 et seq., and, where more restrictive, with the terms of any agreement entered into with the secretary in relation to the use of any funds made available to the State Department for Social Security Administration Disability Determination by the United States, or by any department or agency thereof. However, the State Department for Social Security Administration Disability Determination shall not have the authority to commit this state, either directly or indirectly, to the expenditure of any state funds in the absence of specific authority granted by the General Assembly; and

(3) To take such other action, not inconsistent with law, as shall be necessary or desirable to carry out effectively the purposes and intent of this subchapter.