Investments. 1. The federal environmental law impact review fund consists of: a. Any moneys appropriated or transferred for the purposes set forth in section 4.1-01-19; b. Any gifts, grants, and donations forwarded to the commissioner for the purposes set forth in section 4.1-01-19; and c. Any interest or investment earnings upon moneys in the fund. 2. All moneys in the federal environmental law impact review fund are appropriated to the commissioner on a continuing basis for the purposes set forth in section 4.1 -01-19. The state treasurer may invest moneys in the fund in accordance with section 21-10-07. 4.1-01-21.1. Environmental impact mitigation fund - Report to legislative management - Continuing appropriation - Investments. 1. There is created in the state treasury the environmental impact mitigation fund. The fund consists of all moneys deposited in the fund under section 49 -22-09.2 and all interest or investment earnings upon moneys in the fund. All moneys in the fund are appropriated to the commissioner on a continuing basis for disbursement by the commissioner in accordance with this section. The state treasurer may invest moneys in the fund in accordance with section 21-10-07. 2. Moneys in the fund may be used only for: a. Consultation with environmental scientists or engineers, industry specialists, or others for relevant services to analyze or implement mitigation required from the impact of development; b. Creation, restoration, or mitigation of similar habitat affected by the construction or operation of an energy conversion or transmission facility. Mitigation of adverse impacts from development under this section shall be conducted in the following order of priority: (1) The area immediately impacted by the development; (2) The county impacted by the development; (3) The region impacted by the development; and (4) Other areas within the state; and c. Purchasing and maintaining easements or leaseholds. 3. The commissioner is not subject to chapter 54 -44.4 when contracting for services under this chapter. 4. In consultation with the federal environmental law impact review committee, the commissioner shall adopt rules pursuant to chapter 28 -32 to implement the provisions of this section. 5. Easements or leaseholds purchased by a person to mitigate adverse environmental effects of the construction or operation of an energy conversion or transmission facility under chapter 49 -22 must be limited to the operational life of the facility as defined under chapter 49-22. Any payment made to mitigate adverse environmental effects of the construction or operation of an energy conversion or transmission facility under section 49-22-09.2 must be made to the commissioner who shall deposit the payment into the environmental impact mitigation fund. Prior to the public service commission issuing a permit or certificate to an applicant under chapter 49 -22, the commissioner shall notify the public service commission of mitigation efforts under this section to create, restore, or mitigate similar habitat affected by the construction or operation of an energy conversion or transmission facility. 6. The commissioner shall provide a biennial report of environmental impact mitigation fund disbursements to the legislative management. 7. For purposes of this section, the environmental impact mitigation fund is not subject to subsection 2 of section 4.1-01-18.
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