§ 9-19-204 — Compensatory mitigation; fees; accounts

(a) The board of land commissioners may create an account
exclusively for each mitigation credit provider. The board may
accept funds for deposit into each account as part of the
financial assurances required under rules adopted by the board
of land commissioners pursuant to W.S. 9-19-203(b). The board
shall manage the expenditure of funds within each account.
Funds within each account shall be invested by the state
treasurer as authorized under W.S. 9-4-715(a), (d) and (e).
(b) The board shall collect a fee of one thousand five
hundred dollars ($1,500.00) from each mitigation credit provider
for creating an account as provided by subsection (a) of this
section. An account established pursuant to subsection (a) of
this section shall be subject to an annual fee of one percent
(1%) of the account's balance for the annual administration,
operation, reporting and accounting of the account. The board
shall assess and collect the annual fee on the date set by rule
during each year in which the account is in existence. The
board shall collect the annual fee by deducting it from the
balance of the account.
(c) Each mitigation credit provider shall pay supervisory
fees to the board of land commissioners as set forth in the
rules and regulations of the board. The supervisory fees shall
provide for the costs of audit and other supervisory actions of
a mitigation credit provider approved under this act. The fees
shall be established by rule of the board and shall be adjusted
to assure consistency with the cost of audits.
(d) Fees collected under this section shall be credited to
the mitigation credit fund which is hereby created. Funds within
the mitigation credit fund are continuously appropriated to the
department and shall only be used for purposes of this article.