(a) The Administration may acquire, by purchase, gift, or condemnation, and remove any outdoor sign that, on July 1, 1975, lawfully existed along or near any expressway and that does not comply with this part.

(b) (1) The Administration may pay compensation under this section only for:

(i) The taking from the owner of the outdoor sign of all interest in the sign; and

(ii) The taking from the owner of the land on which the outdoor sign is located of the right to erect and maintain outdoor signs at that location.

(2) The Administration is not required to spend any funds under the federal Highway Beautification Act of 1965 and the Federal-Aid Highway Amendment of 1974, until appropriate matching federal funds are available to this State under these acts.

(c) Compensation may not be paid for any outdoor sign erected after July 1, 1975, in violation of this part.