(1) The board shall:
(a) administer the fund as provided in this chapter; and
(b) fulfill other responsibilities imposed on the board by the Legislature.
(2) The board may not exercise any regulatory authority.
(3) In carrying out the board's powers and duties under this chapter, the board shall adopt ranking criteria that is substantially similar to the ranking criteria used by the Agriculture Conservation Easement Program and Agriculture Land Easement as determined by the Natural Resources Conservation Service under the United States Department of Agriculture.