The Chamorro Land Trust Commission shall create a special fund called the Chamorro Land Trust Survey and Infrastructure Fund (Fund), which shall be maintained separate and apart from any other funds and shall not be subject to the transfer authority of I Maga’låhen Guåhan.

(a) Notwithstanding any other provision requiring the deposit of proceeds to other funds, the Fund shall receive:

(1) the proceeds of all sales of bull cart trails, substandard lots, irregular lots, remnants, splinter lots, fractional lots, easement purchase remnants, and easement condemnation remnants belonging to the government of Guam; and

(2) the proceeds of commercial leases or licenses
executed after October 2015.

(b) Expenditures from the Fund shall be made pursuant to a resolution by the CLTC, and shall be restricted to the following expenditures:

(1) for the subdivision, surveying, mapping and registration of tracts of residential and agricultural land in the CLTC property inventory; and

(2) for the construction of infrastructure, to include access roads, water, and power utilities, to service CLTC residential and agricultural tracts of land.

(c) The Commission shall report on a quarterly basis to the Speaker of I Liheslaturan Guåhan as to the revenues collected and expended from the Fund, and post the same on the website of the Chamorro Land Trust Commission. The Fund shall be subject to audit by the Guam Public Auditor.

SOURCE: Added by P.L. 33-090:3 (Nov. 9, 2015), and again by P.L.
33-095:5 (Nov. 9, 2015).