(a) The forest restoration fund is established. Expenditures from the fund may be made only to carry out the purpose of restoration, conservation, and improvement of lands:
- (1) classified as native forest land, forest plantations, or wildlands under IC 6-1.1-6 ; and
- (2) approved by the state forester.
(b) The foundation shall do the following:
- (1) Hold the fund in the name of the foundation.
- (2) Administer the fund.
- (3) Make all expenditures from the fund.
- (c) Gifts of money to the fund or the proceeds from the sale of gifts donated to the fund or the foundation shall be deposited in the fund.
- (d) The expenses of administering this chapter shall be paid from money in the fund.
- (e) The money in the fund at the end of a state fiscal year remains in the fund and does not revert to any other fund. If the foundation is terminated, the money in the fund reverts to the department.
- (f) The fund is subject to audit as if the foundation were a state agency.
As added by P.L.66-2006, SEC.26.