(1) The director is responsible for the administration and disbursement of all funds, goods, commodities, and services received by the state under this chapter.

(2) There is created within the state treasury a fund to be known as the "vessel, gear, license, and permit reduction fund". This fund shall be used for purchases under RCW 77.80.020 and for the administration of this chapter. This fund shall be credited with federal or other funds received to carry out the purposes of this chapter and the proceeds from the sale or other disposition of property purchased under RCW 77.80.020.

Legislative finding and intent—1975 1st ex.s. c 183: See note following RCW 77.80.020.