(a) There is established the “drycleaner environmental response fund” to provide a source of funds for the implementation of this chapter.

(b) The expenses of administering the fund, including staff to implement this chapter, shall be paid from the money in the fund.

(c) The state treasurer shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public funds are invested. Interest that accrues from these investments shall be deposited in the fund.

(d) The sources of money for the fund are as follows:

(1) Registration fees and drycleaning solvent surcharges paid under § 68-217-106;

(2) Any appropriations made by the general assembly;

(3) Penalties collected pursuant to this chapter;

(4) Gifts, grants, and donations intended for deposit in the fund; and

(5) Any federal funds made available under similar federal legislation, or any other federal program.

(e) Any unencumbered moneys and any unexpended balance of the fund remaining at the end of any fiscal year shall not revert to the general fund, but shall be carried forward until expended in accordance with this chapter.

(f) All claims against the fund shall be expressly and exclusively obligations of the fund only and not of the state, and any amounts required to be paid under this section are subject to the availability of sufficient moneys in the fund. The full faith and credit of the state shall not in any way be pledged or considered to be available to guarantee payment from such fund.

(g) Notwithstanding any other law to the contrary, the drycleaner environmental response fund shall not be considered an insurance company or insurer under the laws of this state, and shall not be a member of nor be entitled to claim against the Tennessee insurance guaranty association created under title 56, chapter 12.