(a) The Texas farm and ranch lands conservation fund is an account in the general revenue fund that may be appropriated only to the department to be used as provided by Subsection (b). The fund may not be used for grants to purchase or acquire any right or interest in property by eminent domain. The fund consists of:

1. (1) money appropriated by the legislature to the fund;
2. (2) public or private grants, gifts, donations, or contributions;
3. (3) funds from any other source, including proceeds from the sale of bonds, state or federal mitigation funds, or funds from any local, state, or federal program;
4. (4) proceeds of the sale of real property not required for the management of real property under Section 31.065(d), Natural Resources Code; and
5. (5) proceeds of the sale of real property under Section 31.066(d), Natural Resources Code.

(b) The fund may be used only:

1. (1) to award grants to qualified easement holders for the purchase of agricultural conservation easements;
2. (2) to pay transaction costs related to the purchase of agricultural conservation easements, which may include reimbursement of appraisal costs; and

3. (3) to pay associated administrative costs of the department, not to exceed five percent of the money in the fund.

   Transferred, redesignated and amended from Natural Resources Code, Subchapter B, Chapter 183 by Acts 2015, 84th Leg., R.S., Ch. 401 (H.B. 1925), Sec. 1, eff. June 10, 2015.