(1) The division of veterans services is hereby authorized to establish and maintain a veterans home in northern Idaho at a location selected by the division administrator with the advice of the veterans affairs commission.
(2) The state shall provide thirty-five percent (35%) matching funds necessary to qualify for federal funding for: Construction of the veterans home authorized by this section; and
(3) Operation of the veterans home authorized by this section, which operation shall comply with applicable federal regulations, including 38 CFR 51, as well as the rules of the division of veterans services.
(4) The state’s matching funds shall be provided from the veterans recognition fund established in section 65-702, Idaho Code, and shall not exceed the amount in such fund.