Whereas, significant opportunities currently exist to bring important Maine natural lands within the public domain; and

Whereas, additional funding is crucial to the State's ability to take advantage of these opportunities; and

Whereas, new funding sources and land acquisition procedures must therefore be put in place as soon as possible; and

Whereas, in the judgment of the Legislature, these facts create an emergency within the meaning of the Constitution of Maine and require the following legislation as immediately necessary for the preservation of the public peace, health and safety; now, therefore,

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 5 MRSA §6203, sub-§1, as amended by PL 1993, c. 728, §4, is further amended to read:

1. Fund established. There is established the Land for Maine's Future Fund that is administered by the board. The Land for Maine's Future Fund consists of the proceeds from the sale of any bonds authorized for the purposes set forth in subsection 3 and, any funds received as contributions from private and public sources for those purposes and the funds set forth in subsection 1-A. The Land for Maine's Future Fund must be held separate and apart from all other money, funds and accounts. Eligible investment earnings credited to the assets of the Land for Maine's Future Fund become part of the assets of that fund. Any balance remaining in the Land for Maine's Future Fund at the end of any fiscal year must be carried forward for the next fiscal year transferred to municipalities containing land acquired with funds from the Land for Maine's Future Fund to offset property tax loss incurred as a result of those acquisitions.

Sec. 2. 5 MRSA §6203, sub-§1-A is enacted to read:

1-A.__Additional funding sources.__Included in the Land for Maine's Future Fund are the following funds:

A.__Any revenue generated by state agencies from fee and less-than-fee simple interests acquired with funds from the Land for Maine's Future Fund;

B.__Fees from Land for Maine's Future Fund registration plates as set forth in Title 29-A, section 455-A; and