(1)
(a) There is created a restricted account within the General Fund known as the "Rangeland Improvement Account."
(b) The restricted account shall consist of:
(i) money received by the state from the United States Secretary of Interior under the Taylor Grazing Act, 43 U.S.C. Section 315 et seq., for sales, leases, and fees;
(ii) grants or appropriations from the state or federal government; and
(iii) grants from private foundations.
(c) Interest earned on the restricted account shall be deposited into the General Fund.
(2) The department shall:
(a) administer the restricted account;
(b) obtain from the United States Department of Interior the receipts collected from:
(i) fees in each grazing district; and
(ii) the receipts collected from the sale or lease of public lands; and
(c) distribute restricted account money in accordance with Section 4-20-106.