85-25-102. (Effective on occurrence of contingency) Columbia River treaty account -- use. (1) There is an account within the state special revenue fund provided for in 17-2-102 called the Columbia River treaty account. The department shall administer the account.

(2) The Columbia River treaty account must be used to:

(a) disburse funds to Lincoln County to compensate the county for storage of floodwaters and general river flow, which provides protection of life and property downstream as well as considerable economic benefit over a broad region; and

(b) transfer funds to the state general fund pursuant to subsection (4)(b).

(3) Any money received by the state related to the Columbia River treaty must be deposited in the account.

(4) (a) No later than July 15 following the close of the preceding fiscal year, the department shall distribute to Lincoln County 80% of all funds deposited into the account during the preceding fiscal year.

(b) The department shall transfer the remaining funds deposited into the account during the preceding fiscal year to the state general fund.

(5) Funds in the account are statutorily appropriated, as provided in 17-7-502, to the department for the purposes provided in subsection (2).

(6) Lincoln County shall use the funds received from the account for schools, roads, and general operations and to establish a trust fund with the interest made available for projects and programs that promote social, economic, and environmental well-being in Lincoln County.