The Marine Recreation Fishing Conservation and Management Fund, referred to in this section as the "fund," is established within the department. The commissioner may receive on behalf of the fund funds from any source. The purpose of the fund is to support activities related to the management and development of marine recreation fisheries. All money received into the fund must be used for the purposes of the fund. Unexpended balances in the fund at the end of the fiscal year do not lapse but must be carried forward to the next fiscal year to be used for the purposes of the fund. Any interest earned on the money in the fund must be credited to the fund. By February 1st of each year, the commissioner shall report to the joint standing committee of the Legislature having jurisdiction over marine resource matters on the amount of money collected in the fund and all expenditures made from the fund in the previous fiscal year. [1999, c. 85, §3 (NEW).]