On and after July 1, 2008, the building official shall assess an education fee on each building permit application. During the fiscal year commencing July 1, 2008, the amount of such fee shall be sixteen cents per one thousand dollars of construction value as declared on the building permit application and the building official shall remit such fees quarterly to the Department of Public Safety for deposit in the General Fund. On and after July 1, 2008, the assessment shall be made in accordance with regulations adopted pursuant to subsection (d) of section 29-251c. All fees collected pursuant to this subsection shall be maintained in a separate account by the local building department. During the fiscal year commencing July 1, 2008, the local building department may retain two percent of such fees for administrative costs incurred in collecting such fees and maintaining such account. On and after July 1, 2008, the percentage of such fees which may be retained by a local building department shall be determined in accordance with regulations adopted pursuant to subsection (d) of section 29-251c."