(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Arkansas Natural and Cultural Resources Grants and Trust Fund”.
(b) The fund shall consist of eighty percent (80%) of those special revenues as specified in § 19-6-301(145), there to be used by the Arkansas Natural and Cultural Resources Council for use in the acquisition, management, and stewardship of state-owned lands and other purposes as set out in §§ 15-12-101 — 15-12-103.