(1) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a trust fund to be known as the “Natural Resources Damages Trust Fund”.
(2) In addition to all moneys appropriated by the General Assembly to the fund, there shall be deposited into the fund all payments collected by the state for restoration, rehabilitation, replacement, or acquisition of natural resources, any moneys received by the state as a gift or donation to the fund or any federal moneys designated to enter the fund, and all interest earned upon moneys deposited into the fund.
(3) All moneys received into the fund shall be utilized for natural resource restoration, rehabilitation, replacement, or acquisition.
(4) All expenditures from the fund shall be authorized by the Natural Resources Damages Advisory Board according to the provisions of this chapter and the requirements or conditions of any orders, settlement agreements, gifts, or donations.