The functions and duties of the State Children’s Trust Fund Commission are hereby transferred to the Governor’s Office for Children and Families effective July 1, 2008. All action taken by the State Children’s Trust Fund Commission prior to that date shall be considered valid, and the Governor’s Office for Children and Families shall as of July 1, 2008, assume all ongoing and continuing obligations of the Children’s Trust Fund Commission. All personnel, supplies, records, materials, furniture, furnishings, books, equipment, and services of the Children’s Trust Fund Commission shall be transferred to the office on July 1, 2008.