(1) There is hereby created the state board of land commissioners land and water management fund. Such fund is to be generated from fees collected under the provisions of section 36-1-112. The fund is to be under the control of and to be administered by the state board of land commissioners. The fund is to be used only for the management and the improvement of state-owned lands and waters under the control of the state board of land commissioners. Each such improvement or management program is to be for the purpose of complying with the provisions of sections 9 and 10 of article IX of the state constitution; except that, for each such improvement made to state-owned lands utilized for agricultural purposes, the lessee shall contribute no less than twenty percent of the cost of such improvement, by written agreement with the state board of land commissioners.(2) The state treasurer shall establish such fund from fees submitted pursuant to section 36-1-112. All such fees submitted shall be credited to such fund. Expenditures from such fund shall not exceed seventy-five thousand dollars in any fiscal year.

rom fees submitted pursuant to section 36-1-112. All such fees submitted shall be credited to such fund. Expenditures from such fund shall not exceed seventy-five thousand dollars in any fiscal year. Any balance in said fund at the close of a fiscal year in excess of seventy-five thousand dollars shall revert to the general fund, and the board shall reduce its fees accordingly.(3) The controller shall authorize disbursements from said fund as directed by the state board of land commissioners on receipt of a voucher from said commissioners stating that the disbursement is to accomplish a purpose set forth in subsection (1) of this section.(4) and (5) Repealed.L. 79: Entire section added, p. 1347, § 3, effective July 1; (5) added by revision, p. 1347, §§ 4, 5. L. 83: (4) amended, p. 844, § 76, effective July 1. L. 85: Entire section RC&RE, p. 1145, § 1, effective May 3. L. 89: (5) amended, p. 1415, § 2, effective April 6. L. 92: (2) amended, p. 1911, § 3, effective March 4. L. 95: (5) repealed, p. 457, § 2, effective May 16. L. 96: (4) amended, p. 1222, § 21, effective August 7. L. 97: (1) amended, p. 851, § 36, effective May 21. L. 2002: (4) repealed, p.

ctive March 4. L. 95: (5) repealed, p. 457, § 2, effective May 16. L. 96: (4) amended, p. 1222, § 21, effective August 7. L. 97: (1) amended, p. 851, § 36, effective May 21. L. 2002: (4) repealed, p. 880, § 13, effective August 7.Prior to the recreation and reenactment of this section on May 3, 1985, subsection (5) provided for the repeal of this section, effective January 1, 1985. (See L. 79, p. 1347.) For the legislative declaration contained in the 1996 act amending subsection (4), see section 1 of chapter 237, Session Laws of Colorado 1996.