(a) All funds received by the division from forfeiture of bonds, civil administrative penalties, or interest from the bond pooling fund shall be deposited into a special interest-bearing account in the state Treasury designated the Quarry Reclamation Fund. The quarry reclamation fund shall be used by the division for reclamation of abandoned quarries.
(b) If the forfeiture of a performance bond or bonding pool fund payments exceeds the cost of reclamation for which the liability was charged, any excess amount shall be deposited into the quarry reclamation fund.
(c) Reclamation projects that are to be financed by the quarry reclamation fund shall be designed by the division.
(d) The director shall administer and approve all expenditures from the quarry reclamation fund.
(e) The division shall compile a list of abandoned quarries in the state and rank them in order of need for reclamation.