(a) The Jobs-Housing Balance Improvement Account is hereby created as a special fund in the State Treasury. All money in the fund shall be available, upon appropriation by the Legislature, to the Department of Housing and Community Development for the following purposes:

1. (1) To make grants to local agencies pursuant to Section 50543.
2. (2) To make grants to cities, counties, and cities and counties pursuant to Section 50544.
3. (3) For transfer to the Rental Housing Construction Fund pursuant to Sections 50543 and 50545.
4. (4) For the related administrative expenses of the department.

(b) There shall be paid into the fund, the following moneys:

1. (1) Any moneys that may be made available by the Legislature for the purposes of the fund.
2. (2) Any other moneys that may be made available to the department for the purposes of this chapter from any other source or sources.