§ 97-nn. "I love NY waterways" fund. 1. There is hereby established in the joint custody of the commissioner of taxation and finance and the state comptroller a special fund to be known as the "I love NY waterways" fund.

2. The "I love NY waterways" fund shall consist of two accounts: (a) the "I love NY waterways" boating safety account; and (b) the "I love NY waterways" vessel access account. Moneys in each account shall be kept separate and not commingled with any other moneys of the state.

3. The "I love NY waterways" boating safety account shall consist of the revenues required to be deposited pursuant to the provisions of sections seventy-eight and two hundred one of the navigation law, and all other moneys credited or transferred thereto from any other fund or source pursuant to law and shall be available for the administration and enforcement of the boating safety program including payments to counties for expenditures incurred in connection with such county's waterway boating safety program pursuant to section seventy-nine-b of the navigation law, including costs and expenses incidental and appurtenant thereto.

4. The "I love NY waterways" vessel access account shall consist of the revenues derived from the vessel access surcharge collected upon the registration of vessels pursuant to section twenty-two hundred fifty-one of the vehicle and traffic law and shall be available for the creation, enhancement or maintenance of state or municipal facilities or services to provide boating access to the waters of the state, provided that the state share of the cost of any project for the creation, enhancement or maintenance of municipal facilities or services shall not exceed fifty percent of such cost.

5. The moneys in such fund shall be paid out as appropriated by the legislature. No moneys in the "I love NY waterways" fund shall be paid except upon the audit and warrant of the state comptroller on vouchers certified by the commissioner of parks, recreation and historic preservation.