3-3304. Arizona agricultural protection
fund


A. The Arizona agricultural protection fund is established. The director shall
administer the fund.


B. The director may accept any gifts, grants or donations for deposit in the fund.


C. On notice from the director, the state treasurer shall invest and divest monies
in the fund as provided by section 35-313, and monies earned from investment shall be
credited to the fund. Monies in the fund are exempt from the provisions of section 35-190
relating to lapsing of appropriations.


D. The director may use monies from the fund for:


1. Reimbursing or advancing monies to persons pursuant to section 3-3307.


2. Purchasing agricultural easements by a qualified easement holder.


3. Paying agricultural easement transaction costs.


4. Monitoring and enforcing costs borne by the easement holder.


5. Administrative costs, which shall not exceed five per cent of the amount
deposited in the fund in the fiscal year or seventy-five thousand dollars, whichever is
greater.


E. Grants made pursuant to this article are exempt from title 41, chapter 23.