I. There is established within the authority a state regenerative manufacturing workforce development fund, which shall be held by the authority apart from all of its other funds. Annual state appropriations and other funds from state or federal sources, and any gifts, grants, or donations, shall be credited to the fund. The state regenerative manufacturing workforce development fund shall be administered by the authority and shall be used for the sole purposes of carrying out the purposes of N.H. Rev. Stat. § 162-T:2. The authority shall invest the fund in accordance with N.H. Rev. Stat. § 6:8. Any earnings on fund moneys shall be added to the fund. All moneys in the fund shall be nonlapsing and shall be continually appropriated to the fund for the purpose of providing regenerative manufacturing worker educational debt relief as provided in this section.
II. The authority may create subfunds or trusts of the state regenerative manufacturing workforce development fund, which shall be held by the authority apart from all of its other funds, which may be deemed irrevocably pledged to secure the repayment of state workforce development bonds issued under N.H. Rev. Stat. § 162-T:4. If such a pledged amount or amounts are called upon to be honored, the authority shall draw upon such fund for the purpose of honoring such pledge.