(a) There is hereby created in the state treasury the energy conservation improvement fund which shall be administered by the Kansas development finance authority.

(b) Not later than October 1 each year, the Kansas development finance authority shall certify to the director of the budget a list of projects for energy conservation improvements financed pursuant to this act. The listing shall identify the repayment schedule for each project and shall include such other information relating to the project as may be requested by the director of the budget. The director of the budget shall make appropriate adjustments to the budgets of each state agency with one or more projects for energy conservation improvements and shall recommend transfers to and appropriations from the energy conservation improvement fund in amounts to repay the amounts required under the agreements authorized by and entered into under this act and related program costs.

(c) In accordance with the provisions of appropriations acts, the Kansas development finance authority may make expenditures of moneys credited to the energy conservation improvement fund for payments made pursuant to agreements entered into by state agencies under this act and for the payment of costs incurred in connection with the implementation of projects for energy conservation improvements and the financing of such projects.