Bill No.: SF0015                  Drafter:  MRW

 

LSO No.:  05LSO-0213              Effective Date:  2/24/2005

 

Enrolled Act No.:  SEA0037

 

Chapter No.:       85

 

Prime Sponsor:     Joint Agriculture, Public Lands and Water Resources Interim Committee

 

Catch Title:       State lands trust preservation account.

 

Subject:  Creates a state lands preservation and enhancement account.

 

Summary/Major Elements:

 

·        Creates the state land preservation and enhancement account.

 

·        Appropriates $750,000.00 for the account.

 

·        Funds in the account are to be used on projects preserving and enhancing the asset value of lands held in trust by the state.

 

·        Funds from the account can only be spent on projects approved by the board of land commissioners.

 

Comments:

 

·Report Required:  The director of the office of state lands and investments is to provide a report to the joint agriculture, public lands and water resources, joint education and joint appropriations interim committees no later than October 1 of each year regarding the use and expenditure of the funds in this account.