(1) (a) There is hereby created in the state treasury the water plan implementation cash fund, referred to in this section as the "fund". The fund consists of sports betting revenues transferred from the sports betting fund in accordance with section 44-30-1509, money transferred from the severance tax operational fund pursuant to section 39-29-109.3 (9), and any other money that the general assembly may appropriate or transfer to the fund. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the fund. (b) (I) The state treasurer shall transfer fifteen million dollars from the general fund to the fund. The board may use up to five percent of the money transferred by this subsection (1)(b)(I) to administer grants made pursuant to subsection (2)(a) of this section. By July 1, 2023, the board shall award pursuant to subsection (2) of this section all of the money transferred by this subsection (1)(b). (II) This subsection (1)(b) is repealed, effective September 1, 2025. (2) From the fund, the board may approve of: (a) Grants pursuant to section 37-60-106.3 (6); (b) Expenditures to ensure compliance with interstate water allocation compacts, equitable apportionment decrees, international treaties, and federal laws relating to interstate storage and release, apportionment, and allocation of water, including to support projects and processes that may include compensation to water users for temporary and voluntary reductions in consumptive use that are regionally equitable and avoid disproportionate, negative economic or environmental impacts to any single subbasin or region; and (c) Expenditures that may be necessary for the administration of grants and compact expenditures listed in subsections (2)(a) and (2)(b) of this section. (3) (a) The general assembly finds and declares that: (I) This subsection (3) is intended to respond to the negative economic impacts caused by the COVID-19 pandemic, as defined in section 37-60-134 (9)(b), and the resulting public health emergency by providing grant money to promote projects and actions that advance progress toward accomplishing the critical actions identified in the state water plan; (II) Money allocated to the state pursuant to the "American Rescue Plan Act of 2021", as defined in section 37-60-134 (9)(a), and transferred to the water plan implementation account may be used for the purposes of this subsection (3); and (III) The water plan implementation purposes described in this subsection (3) are important government services. (b) There is hereby created in the water plan implementation cash fund the water plan implementation account, referred to in this subsection (3) as the "account". The money in the account is continuously appropriated to the board to use for the purposes set forth in this subsection (3). (c) The account consists of all money transferred to the account on August 15, 2024, from the groundwater compact compliance and sustainability fund created in section 37-60-134 (3)(a). (d) The board and any person that receives money from the board pursuant to this subsection (3) shall comply with the compliance, reporting, record-keeping, and program evaluation requirement established by the office of state planning and budgeting and the state controller in accordance with section 24-75-226 (5). (e) This subsection (3) is repealed, effective September 1, 2027.
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