All fees received by the board shall be deposited into a fund known as the Board of Registration for Interior Design Fund in the State Treasury which is hereby established. The fund shall be utilized, in the discretion of the board, to regulate the practice of interior design and to pay the expenses of the board, including the cost of necessary employees, legal expenses, administrative expenses, and other necessary expenses associated with enforcing and administering this chapter. All fees collected prior to August 1, 2001, and collected pursuant to former Chapter 15A of this title are hereby ratified and validated, and transferred to the fund.