Senate Bill No. 162 establishes a new revolving fund within the State Treasury, designated as the State Capitol Arch Memorial Statue Revolving Fund, specifically for the Office of Management and Enterprise Services (OMES). This fund will be utilized for the installation and maintenance of veteran memorial statues around the State Capitol Arch and will consist of all private donations, gifts, grants, or other private funding sources. The fund is designed to be a continuing fund, free from fiscal year limitations, allowing OMES to budget and expend the collected monies as needed for the stated purpose.

The bill outlines that all funds received will be appropriated for the intended use and that expenditures will be made through warrants issued by the State Treasurer, following the approval and payment process established by law. This legislative action aims to ensure that the memorial statues honoring veterans are adequately funded and maintained, reflecting the state's commitment to honoring those who have served.