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(1) There is created an enterprise fund known as the State Store Land Acquisition Fund.
(2) The State Store Land Acquisition Fund is funded from the following sources:
(a) appropriations made to the State Store Land Acquisition Fund by the Legislature; and
(b) in accordance with Subsection (5), proceeds from revenue bonds authorized by Title 63B, Bonds.
(3) Subject to Subsection (4), the department may use the money deposited into the State Store Land Acquisition Fund to purchase or lease property for new state stores.
(4)
(a) Before the department spends or commits money from the State Store Land Acquisition Fund, the department shall present to the Infrastructure and General Government Appropriations Subcommittee a description of how the department will spend the money.
(b) Following a presentation described in Subsection (4)(a), the Infrastructure and General Government Appropriations Subcommittee shall recommend whether the department spend the money in accordance with the department's presentation.
(5) When the department uses money in the State Store Land Acquisition Fund to purchase or lease property for a new state store and subsequently issues a revenue bond for the state store for which the department purchased or leased the property, the department shall repay the money used to purchase or lease the property with proceeds from the revenue bond.