There is hereby established a separate fund to be known as the derelict fishing gear and coastal cleanup fund. The fund shall be administered by the executive director and shall be nonlapsing and continually appropriated to the executive director for the purposes of this section. The executive director shall credit to this fund all federal moneys, state funds appropriated, fines or settlements for derelict fishing gear or other items, and fines for littering in coastal waters or beaches collected under N.H. Rev. Stat. § 163-B:4. The executive director may accept and expend all funds, including any gifts, grants, or donations made to the fund. The moneys in the fund shall be used to establish and support new and existing programs to retrieve and dispose of derelict fishing gear, to conduct periodic coastal cleanup programs for the removal of derelict fishing gear and marine trash, and to support recycling efforts for fishing gear and other marine trash. In this section, “derelict fishing gear” means lost, discarded, or abandoned fishing gear.