(a) A rail service improvement account is created in the special revenue fund in the state treasury. The account consists of funds as provided by law, and any other money donated, allotted, transferred, or otherwise provided to the account, excluding bond proceeds as authorized by article XI, section 5, clause (i), of the Minnesota Constitution. All money so deposited is appropriated to the department for expenditure for rail service improvement in accordance with applicable state and federal law. This appropriation shall not lapse but shall be available until the purpose for which it was appropriated has been accomplished.
(b) A rail service improvement account is created in the bond proceeds fund. The account consists of state bond proceeds appropriated to the commissioner. Money in the account may only be expended for the purposes specified in section 222.50 that are permitted under the Minnesota Constitution, article XI, section 5, clause (a) or (i).