1. Fund established. There is established the Conservation and Recreation Fund that is administered by the board. The Conservation and Recreation Fund consists of the proceeds from the sale of bonds authorized for the purposes set forth in subsection 3 and funds received as contributions from private and public sources for those purposes. The Conservation and Recreation Fund must be held separate and apart from all other money, funds and accounts, except that eligible investment earnings credited to the assets of the Conservation and Recreation Fund become part of the assets of the Land for Maine's Future Trust Fund. Any balance remaining in the Conservation and Recreation Fund at the end of a fiscal year must be carried forward for the next fiscal year. [PL 2023, c. 284, §9 (NEW).] 2. Grants; matching funds. The board may make grants to state agencies and cooperating entities for the purposes identified in subsection 3. For each grant made under this subsection, the board shall require the grant recipient to provide matching funds at least equal to the amount of the grant. Grants must be made according to rules adopted by the board. Rules adopted pursuant to this subsection are routine technical rules as defined in chapter 375, subchapter 2-A. [PL 2025, c. 471, Pt. A, §6 (AMD).] 3. Fund proceeds. The proceeds of the Conservation and Recreation Fund may be applied and expended to: A. Acquire property or an interest in property that is determined by the board to be of statewide significance or for a community conservation project under the guidelines of this chapter; [PL 2023, c. 284, §9 (NEW).] B. When interest in land is acquired with proceeds from the Conservation and Recreation Fund, fund minor capital improvements on such lands and on adjoining lands in the same ownership or under the same management to improve accessibility, as long as these improvements do not exceed 5% of the appraised value of the acquired property; [PL 2023, c. 284, §9 (NEW).] C. When land or interest in land is acquired with proceeds from the Conservation and Recreation Fund, fund minor capital investments in the stewardship and management of that land. Stewardship and management investments under this paragraph must be held in a dedicated stewardship endowment and identified for use on the funded property. Stewardship and management investments may not exceed 5% of the appraised value of the acquired property. For state agencies, these proceeds must be held in a separate interest-bearing Other Special Revenue Funds account within the Land for Maine's Future Trust Fund. Funds appropriated, allocated, transferred or deposited in the Conservation and Recreation Fund, Other Special Revenue Funds account accrue interest earnings that must be used for funding stewardship and management investments; and [PL 2023, c. 643, Pt. M, §1 (AMD).] D. When land or interest in land for deer wintering areas is acquired with proceeds from the Conservation and Recreation Fund pursuant to section 6207, subsection 2, paragraph E, fund the development of a management plan to provide for the land's continuing function as a deer wintering area, as long as the cost of the plan and any investments related to that land under paragraph C do not exceed 5% of the appraised value of the acquired property. A management plan developed under this paragraph may also apply to adjoining deer wintering areas in the same ownership or under the same management. [PL 2023, c. 284, §9 (NEW).] [PL 2023, c. 643, Pt. M, §1 (AMD).]
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