Bill > H1293

This bill establishes a new Land Acquisition Trust Fund within the Department of State (DOS) to hold funds designated for land acquisition, as outlined in Article X, Section 28 of the State Constitution. The bill specifies that this fund will receive money from the existing Land Acquisition Trust Fund managed by the Department of Environmental Protection (DEP). It also mandates that the Department of State must safeguard these transferred funds and requires any unspent money that reverts or is reduced from budget authority to be returned to the DEP's Land Acquisition Trust Fund within 15 days, making it available for future appropriations. Furthermore, in line with constitutional provisions for reviewing trust funds, this new fund within the Department of State is scheduled for termination on July 1, 2019, unless ended sooner, and will undergo review before that date.