Under current law, the wildlife for future generations trust fund has no dedicated revenue source, the interest from the fund is continuously appropriated, and the principal is to remain intact. Section 1 of the bill:
- Dedicates moneys received from energy or mineral royalties or leases of energy or mineral rights on wildlife properties to the fund;
- Specifies that no less than 50% of the moneys deposited in the fund, other than interest, will be maintained intact; and
- Specifies that the remaining balance of the moneys deposited into the fund are subject to appropriation. The interest remains continuously appropriated.
Section 2 creates the parks for future generations trust fund with the same spending authority, the source for which is moneys received from energy or mineral royalties or leases of energy or mineral rights on park properties.
Currently, the division of parks and wildlife occasionally enters into mitigation agreements to offset adverse impacts of development on wildlife, wildlife habitat, or state parks or trails. But the division does not have explicit spending authority for the moneys resulting from payments under these agreements. Section 3 provides that spending authority with regard to wildlife and wildlife habitat, and section 4 provides it for state parks and recreation areas.