Bill Text: DE SB75 | 2013-2014 | 147th General Assembly | Engrossed
Bill Title: An Act To Amend Title 29 And Title 30 Relating To The Investment Of The Parks Endowment Account And The Delaware Land And Water Conservation Trust Fund Endowment In The Department Of Natural Resources And Environmental Control.
Spectrum: Slight Partisan Bill (Democrat 11-4)
Status: (Passed) 2014-08-27 - Signed by Governor [SB75 Detail]
Download: Delaware-2013-SB75-Engrossed.html
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SPONSOR: |
Sen. McBride Reps. Longhurst Heffernan |
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Sens. Blevins, Bushweller, Ennis, Hocker, McDowell, Poore; Reps. Atkins, Brady, Q. Johnson, Kenton, Outten, Wilson |
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SENATE BILL NO. 75 AS AMENDED BY SENATE AMENDMENT NO. 1 AND HOUSE AMENDMENT NO. 1 |
AN ACT TO AMEND TITLE 29 AND TITLE 30 RELATING TO THE INVESTMENT OF THE PARKS ENDOWMENT ACCOUNT AND THE DELAWARE LAND AND WATER CONSERVATION TRUST FUND ENDOWMENT IN THE DEPARTMENT OF NATURAL RESOURCES AND ENVIRONMENTAL CONTROL.
Section 1. Amend Title 29, Chapter 61 of the Delaware Code by making insertions as shown by underlining and deletions as shown by strike through as follows:
§6102A Twenty-First Century Fund Investments Act.
(c) Open space. —
(1) The sum of $6 million shall
be transferred from the appropriations of the Twenty-First Century Fund for
Open Space to Investment income from the Land and Water Conservation
Trust Fund Endowment Accounts, shall generate funds for the
Earnings Account local outdoor recreation, park, and trail projects and
Greenways projects. Fifty percent of the funds generated from the Earnings
Account shall be used to fund local projects administered under §5423 of
Title 30 and [former] §7506(11) [repealed] of Title 7 and 50% of the funds
generated from the Earnings Account shall be used to fund Greenways projects
administered under §8017A of this title and state stewardship projects
administered under §5423 of Title 30.
(2) The Secretary of
Natural Resources and Environmental Control is authorized to expend the
remaining amount from funds appropriated from the Twenty-First Century Fund for
Open Space for the purchase of land and conservation easements to preserve the
environment and provide open space for future generations subject to the
following conditions and terms. Funds shall be transferred from the
Twenty-First Century Fund to the Project Account of the Land and Water Trust
Fund upon the transmittal of a letter of certification from the Secretary of
Natural Resources and Environmental Control to the Secretary of Finance which
states that the funds are for a project approved by the Open Space Council
pursuant to §7506 of Title 7 and demonstrates matching contributions of at
least a total of 1 (non-State) to 1 (State) ratio per fiscal year. Interest
earnings on funds transferred from the Twenty-First Century Fund to the project
account of the Land and Water Trust Fund revert to the Fund. Matching
contributions in excess of this ratio may be applied to match state funding in
any succeeding fiscal year until such excess contributions are exhausted.
Matching contributions shall be defined as irrevocable donations of land, cash,
conservation easements or acquisitions by and to qualified non-profit
conservation organizations and the State. The value of the land shall be
approved by the Open Space Council for matching purposes. Only contributions received
subsequent to July 11, 1995, shall qualify as matching contributions. No land
or easements counted as match for this purpose may subsequently be purchased by
the State without a replacement provided.
(3) In the event that funds
authorized under subparagraph (2) of this subsection are not sufficient to meet
the State's anticipated land protection needs, the Secretary of Natural
Resources and Environmental Control may request the General Assembly to
accelerate funds appropriated from the Twenty-First Century for Open Space into
the Project Account, provided that qualifying matching contributions have been
secured.
(24) For purposes of
match, State funds appropriated for the "Community Transportation
Fund" shall qualify as matching contributions for Greenways outdoor
recreation, park, and trail projects as described in §5423 of Title 30
and §8017A of this title.
(35) Notwithstanding
any other provision of the Delaware Code, a portion of the investment income
funds generated from the Earnings Account of the Land and
Water Conservation Trust Fund Endowment for Greenways outdoor recreation, park, andtrail projects as described in §5423 of
Title 30, and §8017A of this title shall not be eligible to may be
used to fund administrative costs that are necessary to administer this
chapter.
(e) Parks endowment. —
(1) A special
fund appropriation account is hereby created in the Department of Natural
Resources and Environmental Control, Division of Parks and Recreation, to be
known as the "Parks Endowment Account." It is the intent of the
General Assembly that the sum appropriated from the Twenty-First Century Fund
for the Parks Endowment Account shall be known as the "principal" and
shall remain intact.The Parks Endowment Account shall be
invested in a manner consistent with endowment investment guidelines as
approved by the Cash Management Policy Board.The Department of Natural Resources and Environmental
Control may be expend up to 5% annually, on a five-year rolling
average, of the value of the Parks Endowment Account only the interest
and/or the investment yield from the principal for capital-related
purposes, including minor capital improvements, to preserve the quality of the
State's parks system and enhance recreational opportunities.
(2) Funds appropriated from
the Twenty-First Century Fund for Parks Endowment shall be transferred to the
Parks Endowment Account on July 11, 1995. The Secretary of Natural Resources
and Environmental Control shall not be authorized to expend the interest earned
or the investment yield from the principal until a letter of certification has
been received by the Secretary of Finance which demonstrates a matching
contribution of at least 1 (non-state) to 3 (state) ratio of the principal, or
fractional amount thereof. The unmatched interest shall accumulate until the
full match has been achieved. Matching contributions shall be defined as
monetary, including moneys set aside as endowment. Only contributions received
subsequent to July 11, 1995, shall qualify as matching contributions. Moneys
received as match from cash contributions shall only be eligible to be counted
as match for 1 year for purposes of calculating the percentage of interest
earned and/or investment yield that can be expended.
(3) The Department of
Natural Resources and Environmental Control shall include a list of proposed
projects to be funded by the interest earned or investment yield of this
Account in its annual capital improvements request for approval by the Joint
Legislative Committee on Capital Improvement Programs.
Section 2. Amend Title 30, Chapter 54, of the Delaware Code by making insertions as shown by underlining and deletions as shown by strike through as follows:
§5421 Definitions.
The following words, terms and phrases, when used in this subchapter, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:
(1) "Conservation Trust Fund" means the Delaware Land and Water Conservation Trust Fund established and maintained pursuant to this subchapter.
(2) "Department" means the Department of Natural Resources and Environmental Control.
(3) "Earnings
Account" means the account by that name created within the Conservation
Trust Fund pursuant to §5423 of this title.
(43) "Endowment
Account" means the account by that name created within the Conservation
Trust Fund pursuant to §5423 of this title.
(4) "Infrastructure
Account" means the account by that name created within the Conservation
Trust Fund pursuant to §5423 of this title.
(5) "Project" means the planning for, and the acquisition and development of property, undertaken to achieve the purposes of this chapter.
(6) "Outdoor Recreation, Park and Trails Program" means a local government matching grants program to support the expansion of access to outdoor recreationalfacilities across the state.
(67) "Secretary"
means the Secretary of the Department.
(78) "State
agency" means the following units of state government which manage natural
and cultural resources: Department of Natural Resources and Environmental
Control (Division of Parks and Recreation and Fish and Wildlife), Department of
State (Division of Historical and Cultural Affairs) and the Department of
Agriculture (Division of Resource Management).
(89) "Stewardship
Account Program" means the account program by
that name created within the Conservation Trust Fund pursuant to §5423 of this
title. Generally, this account program shall hold funds to
be used in the planning for and implementation of management projects on public
lands that promote cultural preservation and conservation activities related to
plants and animals and their habitat.
(10) "Open Space Program" means the program to carry out the purpose of Title 7, Chapter 75 Delaware Land Protection Act.
§5422 General.
The purpose of this subchapter is to provide funding to implement the conservation program described in Volume 65, Chapter 212 of the Laws of Delaware and safeguard this funding in perpetuity. Funding to achieve the purposes of this subchapter shall be provided from appropriations by the State, grants from the federal government, funds in the Conservation Trust Fund and the earnings thereon, private donations and any other sources which may be available from time to time. The Department is authorized and directed to encourage and seek funding from any available private and public sources.
§5423 Delaware Land and Water Conservation Trust Fund.
(a) There is created and
established under the jurisdiction and control of the Department a trust fund
to be known as the Delaware Land and Water Conservation Trust Fund to implement
the conservation program described in Volume 65, Chapter 212 of the Laws of
Delaware. Within the Conservation Trust Fund there is established an
"Endowment Account," a "Stewardship Account," a
"Project Account," and an "Earnings Account" and an
"Infrastructure Account." The Endowment Account shall be invested in a manner
consistent with endowment investment guidelines as approved by the Cash
Management Policy Board.Funds in
the Conservation Trust Fund shall be applied for the purposes of this
subchapter as hereinafter provided.
(b)(1) The corpus of funds
remaining on deposit in the Delaware Land and Water Conservation Trust Fund
maintained under §4733 [repealed] of Title 7 on July 13, 1990, shall be
deposited in the Endowment Account. Any earnings on said corpus still on
deposit in said Fund on July 13, 1990, and all Up to 5% of the value
across a five-year rolling average of the value of earnings on
the funds in the Endowment Account shall be distributed annually as
follows: 2/3 to the Earnings Account Outdoor Recreation, Parks and
Trails Program and 1/3 to the Stewardship Program Account.
Additional deposits shall be made to the Endowment Account from realty transfer
taxes as hereinafter provided, from other state funds as the General Assembly
may from time to time determine, and from any other public and private sources
which may from time to time be made available. The Endowment Account is
intended to provide a permanent endowment to accomplish the purposes of this
subchapter. The corpus of the Endowment Account shall not be invaded unless
for a purpose identified in this section.
(2) On or before December 15 of
each fiscal year except the fiscal year ending June 30, 2000, the State
shall transfer $1,000,000 of realty transfer taxes to the Endowment Infrastructure
Account annually. until such account reaches $60,000,000 as
hereinafter provided For the fiscal year ending June 30, 2000, the State shall
transfer $3,000,000 to the Endowment Account.
(3) After the amount in the
Endowment Account equals $60,000,000, no further transfers of realty transfer
taxes shall be made into the Endowment Account or the Project Account.
(c)(1) Funds in the Project
Account for the Open Space Program, and the earnings thereon to be
retained therein, shall be applied by the Department to pay the costs of
planning, and acquisition and development of property, to achieve the purposes
of this subchapter. The Project Account program shall be funded by
a transfer of $9,000,000 of realty transfer taxes into the Endowment Account
on or before December 15 of each fiscal year. until such time as the
Endowment Account reaches $60,000,000 as heretofore provided, from other state
funds as the General Assembly may from time to time determine, and from any
other public and private sources which may from time to time be made available.
The annual appropriations to the Project Endowment Account is are intended to provide funds for current
expenditure to achieve the purposes of this subchapter although the Department
may, in its discretion, accumulate funds in the Project Account for
particular project purposes.
(2) It is intended that property
acquired with funds from the Project Endowment Account shall remain in public outdoor
recreation and conservation use in perpetuity. Said property may not be
converted to other uses without a subsequent act of the General Assembly. If
the General Assembly approved the saleof any project or portion thereof, the State shall receive its pro rata
share of net saleincome. Said funds
shall be deposited in the Project Endowment Account to be
immediately available for other projects.
(3) [Deleted.]
(d)(1) Funds in the Earnings
Endowment Account, and the earnings thereon, which are to be retained
therein, shall be disbursed, upon application, to state agencies, counties,
municipal governments and local park districts, to pay the costs of planning, and
acquisition and outdoor recreation infrastructure development of
property, to achieve the purposes of this subchapter. Not more than 5075%
of a total project cost may be paid from the Conservation Trust Fund. ;
except that up to 75% of a project cost may be paid where the applicant is a
local park district or an municipal government or county that has not received
a grant within the past 10 years and up to 100% of a total project cost may be
paid where the applicant is a state agency, if the park district or state
agency, as applicable, provides evidence satisfactory to the Department that no
other matching funds or in-kind contributions are available.In any given year, state agencies shall
only be eligible to receive funds as defined in this section where the
Secretary determines that available funds exceed the eligible project requests
from nonstate applicants. Private entities, including nonprofit entities, and
school districts shall not be eligible for a grant through this program from
the Earnings Endowment Account. At the end of each fiscal year
the Secretary may transfer from the Earnings Account to the Project Account all
funds in the Earnings Account which have not been reserved for grants under
this subsection. Funds in the Earnings Endowment Account
shall be eligible to fund Greenway Projects outdoor recreation, park,
and trail projects in accordance with the provisions of §6102A(c)(1) of
Title 29 and the provisions of §8017A of Title 29.Administrative costs associated with the
administration of this section and development of the statewide outdoor
recreation plan shall be eligible for funding under this section.
(2) The applicant requesting funds
from the Earnings Account for outdoor recreation, park, and trail
projects must provide evidence satisfactory to the Department that the
required matching funds have been committed or will be expended for the
proposed project. Any property previously held or expenditures already made by
the applicant may not be counted as part of an applicant's matching
contribution.Land donations, in-kind
services and/or materials provided by the applicant or received by the
applicant from other sources may be used by the applicant under certain
conditions to satisfy its matching requirement.
(3) All
expenses of operation and maintenance for property acquired with funds from the
Earnings Endowment Account shall be borne perpetually by the applicant.
(4) It is intended that property
acquired or improved with funds from the Earnings Endowment
Account shall remain in public outdoor recreation and conservation use in
perpetuity. Said property may not be converted to other uses without a
subsequent act of the General Assembly. If the General Assembly approved the
sale or lease of any project or a portion thereof, the State shall receive
its pro rata share of net sale and/or lease income shall be deposited
into the Endowment Account. Said funds shall be deposited in the Earnings
Endowment Account to be immediately available for other projects.
(e) Funds in dedicated
for the Stewardship Account program, and the earnings
thereon, which are to be retained therein, shall be disbursed proportionately
by the Secretary according to the following formula: 35% to the Division of
Parks and Recreation, 35% to the Division of Fish and Wildlife, 10% to the
Division of Historical and Cultural Affairs, and 20% to the Department of
Agriculture Forest Service. The Secretary shall maintain an annual
accounting of all expenditures for reporting to the General Assembly and shall
include a summary of all program activities in the 5-year Open Space Report.
The Stewardship Account program is intended to provide funds for
current expenditure, although the state agencies may, in their discretion,
accumulate funds for in the Stewardship Account programs
for particular project purposes.
It is the intent of the General Assembly
that funds in the Stewardship Account program shall be used by
the state agencies for management, and preservation and
interpretation of biological, recreational and cultural resources in
addition to any other funds which have been previously appropriated for this
purpose or which may be so appropriated in the future.
(f) Funds in the Infrastructure Account, and the earnings thereon, which are to be retained therein, shall be disbursed by the Secretary to meet critical infrastructure needs of the Division of Parks and Recreation, the Division of Fish and Wildlife, and other Department outdoor recreational facilities.The Infrastructure Account is intended to provide funds for reinvestment in key open space infrastructure such as campgrounds, trails, visitor centers, recreational amenities, hunting, fishing and wildlife viewing areas.
(g) The Secretary shall maintain an annual accounting of all Land and Water Trust fund expenditures and report to the General Assembly.
