Subd. 1. Creation.

There is created in the state treasury a land acquisition account.

Subd. 2. Appropriation.

Money in the account is appropriated to the commissioner of natural resources for:

1. (1) the acquisition of natural resource lands or interests in lands within the outdoor recreation system established in chapter 86A;
2. (2) payment of expenses incurred by the commissioner in rendering saleable any state-owned property administered by the commissioner; and
3. (3) payment of expenses incurred by the commissioner in exchanging any state-owned property administered by the commissioner.

Subd. 3. Report.

The commissioner must file a report to the house of representatives Ways and Means and the senate Finance Committees and the Environment and Natural Resources Committees of the senate and house of representatives by October 1 of each year indicating all purchases and sales from this account.