97A.4742 LIFETIME FISH AND WILDLIFE TRUST FUND.
Subdivision 1. Establishment; purpose.
The lifetime fish and wildlife trust fund is
established as a fund in the state treasury. All money received from the issuance of lifetime
angling, small game hunting, deer hunting, and sporting licenses and earnings on the fund shall be
credited to the lifetime fish and wildlife trust fund.
Subd. 2. Investment of fund; use of income from fund.
Money in the lifetime fish and
wildlife trust fund shall be invested by the State Investment Board to secure the maximum return
consistent with the maintenance of the perpetuity of the fund. The income received and accruing
from investments of the fund shall be deposited in the lifetime fish and wildlife trust fund. Each
year the commissioner of finance shall transfer from the lifetime fish and wildlife trust fund to the
game and fish fund an amount equal to the amount that would otherwise have been collected from
annual license fees for each lifetime license. Surcharge amounts shall be transferred based on
97A.071, subdivision 2
97A.075, subdivision 1
Subd. 3. Lifetime license fees.
By October 15 of each even-numbered year, the
commissioner shall report on the adequacy of lifetime license fees and make specific requests
for fee adjustments for the lifetime licenses to the legislative committees with jurisdiction over
environment and natural resources finance and the commissioner of finance. The commissioner of
finance shall review the fee report and make recommendations to the governor and legislature
for each fee category under sections
, as part of the biennial budget, under
Subd. 4. Annual report.
By December 15 each year, the commissioner shall submit a
report to the legislative committees having jurisdiction over environment and natural resources
appropriations and environment and natural resources policy. The report shall state the amount
of revenue received in and expenditures made from revenue transferred from the lifetime fish
and wildlife trust fund to the game and fish fund. The report may be included in the game and
fish fund report required by section
97A.055, subdivision 4
. The commissioner shall make the
annual report available to the public.
History: 2000 c 341 s 7; 2002 c 351 s 10; 2004 c 255 s 30; 1Sp2005 c 1 art 2 s 99