(1) There is hereby created in the State Treasury a special fund which shall consist of funds deposited therein under Section 55-5-103 and funds made available by the Legislature in any manner and funds from any other source designated for deposit into such fund. Unexpended amounts remaining in the fund at the end of a fiscal year shall not lapse into the State General Fund, and any investment earnings or interest earned on amounts in the fund shall be deposited to the credit of the fund. Monies in the fund shall be used for the purposes provided in this section.

(2) The MDA shall establish a program to make funds available for the purpose of providing funds to assist in paying costs associated with the operation and maintenance of a national park or other federal visitors or recreation area when due to a shutdown of the federal government, federal funds are unavailable and have been unavailable for at least five (5) days for such purposes. Funds made available by the MDA under this section shall be provided on a reimbursable basis and cannot exceed fifty percent (50%) of the amount of funds expended from private, local and/or other sources for the operation and maintenance of a national park or other federal visitors or recreation area located in this state during the time that federal funds are unavailable for such purposes.

(3) An entity desiring assistance under this section must submit an application to the MDA. The application must include a description of the purposes for which the assistance is requested, the amount of funds from private, local and/or other sources that have been expended and/or irrevocably dedicated for such purposes, the amount of assistance requested and any other information required by the MDA.

(4) The Mississippi Development Authority shall have all powers necessary to implement and administer the program established under this section, and the Mississippi Development Authority shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section.