(a) Except as otherwise provided by this subsection, the department may enter into an agreement with a public or private entity for the purpose of developing a nature-based carbon sequestration or similar ecosystem services project on department land. This subsection does not authorize the department to enter into an agreement to develop a carbon dioxide injection well on department land.
(b) Money received by the department from a carbon sequestration or similar ecosystem services project under this section shall be deposited:
(1) to the credit of the game, fish, and water safety account, if the project is located on land primarily used for game or fish conservation, protection, or management; and
(2) to the credit of the state parks account, if the project is located on land primarily used for parks, recreation, or historic sites.