Indiana § 14-31-2-9 Natural heritage protection fund

Indiana Statutes

§ 14-31-2-9 — Natural heritage protection fund

Indiana·Art. 31 NATURE PRESERVES·Ch. 2 Indiana Natural Heritage Protection Campaign

(a)The Indiana natural heritage protection fund is established. The department shall administer the fund to effect the purposes of this chapter.

(b)The department may expend fund resources, except as provided in section 11 of this chapter, only when property or property interests are acquired as part of the campaign. Acquisition includes the following:

(1)Purchase of property interest by the department.

(2)Acceptance by the department of gifts of property interests as campaign projects.

(3)At the department's option, reimbursement to entities that are not departments or agencies of the state of part or all of the acquisition costs, not to exceed the appraised value, of natural areas or property interest:

(A)that those entities have purchased; and

(B)to which those entities desire to

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(a) The Indiana natural heritage protection fund
is established. The department shall administer the fund to effect the
purposes of this chapter.
(b) The department may expend fund resources, except as provided
in section 11 of this chapter, only when property or property interests
are acquired as part of the campaign. Acquisition includes the
following:
(1) Purchase of property interest by the department.
(2) Acceptance by the department of gifts of property interests as
campaign projects.
(3) At the department's option, reimbursement to entities that are
not departments or agencies of the state of part or all of the
acquisition costs, not to exceed the appraised value, of natural
areas or property interest:
(A) that those entities have purchased; and
(B) to which those entities desire to keep title.
However, reimbursement is permitted only when the proposed
acquisition project is dedicated as a nature preserve under IC 14-31-1 or under IC 14-4-5 (before its repeal), or the natural
features of the site that justify acquisition are otherwise
permanently protected through similarly binding legal
mechanisms.
(c) The department may expend fund resources supplied by the state
only to the extent the resources have been matched with contributions
to the fund of equal value from private sources. The private
contributions:
(1) may be made in cash or in contributions of land or property
interests that are designated by the department as campaign
acquisitions; and
(2) shall be valued, for the purposes of this subsection, in
accordance with the appraised value.
(d) The fund shall be managed to earn the highest interest
compatible with prudent investment, preservation of principal, and
reasonable liquidity. Absent reversion under subsection (e), principal
and interest remain in the fund until expended under this chapter.
(e) Fund resources:
(1) appropriated by the state; and
(2) not matched within three (3) years from the date of the
appropriation;
revert to the state general fund.
[Pre-1995 Recodification Citations: 14-4-5.1-2 part;
14-4-5.1-3(a).]