SECTION 1. Chapter 29 of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by inserting, after section 2KKKK, the following section:-

"Section 2LLLL. There shall be established and set up on the books of the commonwealth a separate fund to be known as the Underground Storage Tank Petroleum Product Cleanup Fund. Amounts credited to said fund shall be used, subject to appropriation, for the purposes set forth in chapter 21J. There shall be credited to such fund: any fees, penalties, and other amounts collected pursuant to said chapter 21J; any appropriation, grant, gift or other contribution explicitly made to such fund; and any interest earned on monies within the fund. Expenditures made from said fund during any fiscal year shall not exceed the cash balance of said fund as of December 31 of the calendar year preceding the beginning of such fiscal year less the total of the amounts specified in subsections (b), (c) and (d) of section 4 of said chapter 21J.".