(1) (a) The outdoor equity fund is hereby created in the state treasury. The fund consists of money credited to the fund pursuant to section 44-40-111 (12). All interest and income derived from the deposit and investment of money in the outdoor equity fund must be credited to the fund and may not be transferred to the general fund or any other fund at the end of any fiscal year. Any unexpended and unencumbered money remaining in the outdoor equity fund at the end of a fiscal year stays in the fund. (b) The money credited to the outdoor equity fund pursuant to subsection (1)(a) of this section and any income and interest derived from the deposit and investment of such money is exempt from any restriction on spending, revenue, or appropriations, including, without limitation, the restrictions of section 20 of article X of the state constitution. (2) Subject to annual appropriation by the general assembly, the division may expend money from the outdoor equity fund to implement the outdoor equity grant program. The department may use money in the outdoor equity fund to pay the direct and indirect costs that the department incurs to administer this part 2, assist the outdoor equity board, and pay the per diem and expenses of the outdoor equity board members. (3) The outdoor equity board may seek, accept, and expend gifts, grants, donations, loans of money, or aid in any form from the federal government, any state agency, any local government, or from private sources, or any combination thereof, for the purposes of this part 2, and any such money must be credited to the gifts, grants, and donations account created in the fund. The money in the gifts, grants, and donations account is continuously appropriated to the division to implement the outdoor equity grant program. (4) Repealed.
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