Sec. 2. (a) The director may determine what part of the proceeds of the sale of state land or the products of state land is:
(1) a profit; and
(2) a direct result of work done on the land by the United States government under 16 U.S.C. 460l-4 et seq.
(b) When the director determines that a profit exists, the director shall order that not more than one-half (1/2) of the profit, in the amount the director determines, be set aside and retained by the department as a separate fund to be known as the emergency conservation work fund.
(c) The director may negotiate with the appropriate federal authorities for reimbursement of the United States and fix the amount due the United States under this section. The amount fixed shall be paid from the emergency conservation work fund as the director directs.
(d) Any unexpended remainder in the emergency conservation work fund after the United States has been reimbursed as provided in this chapter shall be paid into the state general fund.
[Pre-1995 Recodification Citation: 14-3-7-2.]
As added by P.L.1-1995, SEC.11.