(a) The fund shall be available to the board and the commissioner for the purposes of identifying and investigating inactive hazardous substance sites for consideration for placement on the list described in § 68-212-206(e), and for investigating and reasonably and safely containing, cleaning up, monitoring and maintaining such sites as provided in this part and as set forth in § 68-212-224.

(b) The commissioner may enter into such contracts and use the fund for those purposes directly associated with identification, investigation, containment and cleanup, including monitoring and maintenance prescribed above, including:

(1) Hiring of consultants and personnel;

(2) Purchase, lease or rental of necessary equipment; and/or

(3) Other necessary expenses.

(c) Such fund may also be used for matching the funds of any federal agency, pursuant to § 104(c) of Public Law 96-510, codified in 42 U.S.C. § 9604, to enable the state to receive federal funds to clean up hazardous substance sites, or providing for state financed clean up.

(d)

(1) Such fund may also be used for any of the following activities:

(A) Provide free, voluntary, confidential, on-site technical assistance to hazardous waste generators to assist them in evaluating their hazardous waste generation and to identify opportunities to reduce generation of hazardous waste and to recycle and reuse that which is generated;

(B) Promote all aspects of the state's waste reduction and pollution prevention program;

(C) Operate the waste reduction information clearinghouse, utilizing existing clearinghouses as much as possible, to provide free information to Tennessee hazardous waste generators about proven measures to reduce hazardous waste generation;

(D) Coordinate an annual governor's award program for companies utilizing innovative and exemplary approaches to reducing hazardous waste generation;

(E) Conduct training sessions and workshops and publish reports targeted toward specific segments of industry and business in Tennessee to transfer information concerning hazardous waste reduction measures;

(F) Prepare an annual report to the general assembly;

(G) Accept, receive and administer grants, gifts or other funds made available from any source for the purposes of this part;

(H) Provide grants, not to exceed one hundred thousand dollars ($100,000) in the aggregate for any single fiscal year, to generators of hazardous waste to provide seed money to encourage firms to adopt and adapt to more appropriate technologies that provide for a reduction or better treatment of hazardous waste;

(I) Notwithstanding subsection (b), provide research grants in the aggregate amount not to exceed one hundred thousand dollars ($100,000) annually to encourage the development of new technology for the reduction or better treatment of hazardous waste; and

(J) Review waste reduction plans prepared pursuant to this chapter.

(2) Grants made pursuant to this subsection (d) shall be made on a competitive basis with appropriate criteria for such competition to be established by the commissioner. Such grants shall only be made from interest accruing on investments and deposits of the fund.