The state board of education may take any necessary action consistent with state law to comply with the provisions of Public Law 209 of the 89th Congress, known as the "national foundation on the arts and the humanities act of 1965" and may accept and expend federal funds available under this law.

     This act shall not be construed as authorization to expend nor to incur any obligation to expend any state funds in excess of any amount which may be appropriated for such purpose by the legislature. Any funds appropriated shall be paid out of the state treasury in accordance with state accounting procedures necessary to assure proper distribution of and accounting for federal funds paid to the state.