Bill > S0576

This bill establishes a new Land Acquisition Trust Fund within the Agency for Persons with Disabilities, which will receive funds from the existing Land Acquisition Trust Fund managed by the Department of Environmental Protection. These funds are intended for purposes outlined in section 28 of Article X of the State Constitution, which generally relates to the acquisition and management of state lands. The bill specifies that if the acquired land or property interests are to be owned by the state, the title must be held by the Board of Trustees of the Internal Improvement Trust Fund, a state entity responsible for managing state lands, and the acquisition must follow specific procedures, including voluntary negotiation and appraisal. The Agency for Persons with Disabilities, or an entity it designates, will be responsible for managing these acquired lands according to the constitutional purposes, though other compatible uses may be permitted. Importantly, any money in this new trust fund cannot be invested in the same way as other state funds; instead, any interest earned will be directed to the state's General Revenue Fund. The bill also includes a provision for the trust fund to be reviewed and potentially terminated or re-created on July 1, 2019, as required by the state constitution for certain trust funds, and it will take effect on July 1, 2015.