A. The childhood cancer and rare childhood disease research fund is established consisting of monies received pursuant to section 28-2442. The director shall administer the fund. Not more than ten per cent of monies deposited in the fund annually shall be used for the cost of administering the fund. The first thirty-two thousand dollars received shall be reimbursed to the person or entity that paid the implementation fee. Monies in the fund are continuously appropriated. The director shall annually distribute monies in the fund.

B. The director shall allocate monies from the fund to health care providers and research institutions that are located in this state, that are nonprofit organizations and that are engaged in phase I clinical trials relating to research on pediatric cancer or other rare pediatric diseases. The monies may be used in a collaborative study or research program with other facilities outside of this state. Nonprofit organizations receiving monies from the fund shall use the monies for the purposes prescribed in this subsection even if the monies are aggregated with other monies.

C. Monies in the fund are exempt from the provisions of section 35-190 relating to lapsing of appropriations.