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(1) There is created an expendable special revenue fund known as the "Public Land Management Fund."
(2) The fund shall consist of:
(a) fees collected by the DLM under this chapter;
(b) money appropriated to the fund by the Legislature;
(c) money collected under Section 63L-8-505;
(d) money voluntarily donated or contributed to the fund;
(e) proceeds, as described in Subsection 63L-8-204(3); and
(f) interest earned on the fund.
(3) The DLM may expend money in the fund on:
(a) administration costs;
(b) project planning;
(c) a payment authorized by this chapter; and
(d) other duties required under this chapter, including the acquisition and improvement of public land, as described in Section 63L-8-104.
(4) The DLM shall annually expend money in the fund to pay a county in lieu of taxes the county cannot levy on public land owned by the state:
(a) in an amount no less than the highest amount ever fully authorized by Congress for payment to the county under the federal Payments in Lieu of Taxes and Secure Rural Schools programs, according to the most recent federal formulas before the effective date of this chapter, as described in Section 63L-8-602; and