The shoreline environmental trust fund is established to provide a source of money for the following:

1. (1) The rehabilitation, redevelopment, and reuse of qualifying property by providing environmental grants to political subdivisions to conduct any of the following activities:

   1. (A) Identification and acquisition of qualifying property within a political subdivision.
   2. (B) Environmental assessment of identified qualifying property and other activities necessary or convenient to complete the environmental assessments.
   3. (C) Remediation of environmental contamination conducted on qualifying property.
   4. (D) Clearance of real property under IC 36-7-14-12.2 or IC 36-7-15.1-7 in connection with remediation activities.
   5. (E) Other activities necessary or convenient to return qualified property to full use.
2. (2) Payment of the share of the operations of the commission, as determined by the commission.

As added by P.L.31-2001, SEC.1. Amended by P.L.197-2011, SEC.137.