The Higher Education Administrative Fund, referred to in this section as "the fund," is established within the department as a nonlapsing fund to receive participation fees from institutions of higher education for applications for membership or membership renewal in the interstate reciprocity agreement authorized under section 405, subsection 3, paragraph W. Funds deposited in the fund must be used to support the department's facilitation of the interstate reciprocity agreement and for other department costs associated with the administration of higher education in the State.   [PL 2023, c. 643, Pt. BB, §1 (NEW).]