Education design and construction project assessment fund

(a) There shall be established in the department a revolving fund to be known as the education design and construction project assessment fund for the purpose of defraying the costs of: (1) Carrying out construction projects managed by the department; (2) Managing funds representing accumulated vacation and sick leave credits and retirement benefits for non-general fund employees in the construction program in accordance with section 78-23; (3) Equitably collecting and distributing moneys for other current expenses associated with capital improvement, repairs and maintenance, and repairs and alterations projects; and (4) Managing payments for employee transportation requirements such as car mileage reimbursements in accordance with applicable law and collective bargaining agreements. (b) The superintendent shall assess construction projects managed by the department based on the superintendent's evaluation of the costs of services for capital improvements, repairs and maintenance, and repairs and alterations projects. All assessments collected shall be deposited into the education design and construction project assessment fund. (c) All expenditures from the education design and construction project assessment fund shall be made by the superintendent in accordance with applicable law and rules.