(1) There is hereby created and established in the state treasury a fund to be known and designated as the "state trust for outdoor recreation enhancement (STORE)." The park and recreation board may dedicate funds acquired by gift, agreement, donation, appropriation or otherwise to the STORE fund.
(2)  Commencing with the passage and approval of this act, all interest income from the STORE fund is hereby appropriated to, and is to be administered by, the park and recreation board for the purpose of carrying out the provisions of this act.
(a)  Up to fifteen percent (15%) of the STORE fund interest income appropriated to the department each year may be used by the department to defray STORE program administrative costs. Any moneys unused at the end of the fiscal year shall be returned to the state treasurer for deposit in the STORE fund.
(b)  The park and recreation board may return interest income to the STORE fund to increase the trust principal.
lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Idaho Code 67-4247

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
(3)  The department shall use the moneys appropriated from the interest income on the STORE fund to:
(a)  Operate a grant program to fund capital improvements, repairs, renovations, and land acquisitions that enhance opportunities for outdoor recreation. Indoor swimming pools and indoor ice rinks shall be eligible to receive grant funding provided use is primarily for public recreation. Grant recipients shall be required to provide a fifty percent (50%) match for all grants.
(b)  Organize and operate a recreation incentive program to initiate positive growth activities for children and young adults and which will assist rural communities to meet the growing demand for recreation services.
(4)  The state of Idaho and any of its subdivisions legally authorized to provide public recreation facilities may apply for and receive grant funds.
(5)  Because public, private, and corporate moneys will be contributed to the STORE fund, it is the intent of the legislature to protect the STORE fund against appropriations for purposes other than those stated in this act.