1. The Account for the Channel Clearance, Maintenance, Restoration, Surveying and Monumenting Program is hereby created in the State General Fund.
2. The money in the Account must be administered by the State Engineer and must be expended only to aid local governments or tribal governments in the manner provided in NRS 532.220.
3. If the balance in the Account that is not committed for expenditure is below $500,000, the State Engineer may request an allocation from the Contingency Account pursuant to NRS 353.266, 353.268 and 353.269.
4. If the balance in the Account is not sufficient to provide a grant of money to an incorporated city, a county, a political subdivision of this State or a tribal government in this State, the State Engineer shall request an allocation from the Contingency Account pursuant to NRS 353.266, 353.268 and 353.269.