(1) The Emergency Preparedness and Response Fund is created within the Executive Office of the Governor.
(2) The fund is established for use as a depository for moneys specifically transferred or appropriated to the fund. The moneys deposited in the fund are available as a primary funding source for the Governor for purposes of preparing or responding to a disaster declared by the Governor as a state of emergency that exceeds regularly appropriated funding sources.
(3) In accordance with s. 19(f)(2), Art. III of the State Constitution, the Emergency Preparedness and Response Fund shall, unless terminated sooner, be terminated 4 years after the effective date of this act. Before its scheduled termination, the fund shall be reviewed as provided in s. 215.3206(1) and (2). 
