(a)

(1) The Arkansas State Game and Fish Commission voluntarily agrees to make available an amount not to exceed five hundred thousand dollars ($500,000) for the fiscal year beginning July 1, 2011, and ending June 30, 2012, for the Wildlife Recreation Facilities Pilot Program for the development of wildlife recreation facilities under this subchapter from moneys that the Arkansas State Game and Fish Commission has received from oil and gas leases in the Fayetteville Shale.

(2) The General Assembly recognizes that the agreement under subdivision (a)(1) of this section does not constitute:

(A) A mandate by the General Assembly;

(B) An appropriation of funds by the General Assembly; or

(C) A waiver or relinquishment by the Arkansas State Game and Fish Commission of the authority vested in the Arkansas State Game and Fish Commission under Arkansas Constitution, Amendment 35.

(3) Before any moneys are distributed under this section, the Arkansas State Game and Fish Commission shall retain the right to approve or disapprove the release of moneys.

(4) Future funding for the program is subject to the review under subdivisions (b)(2) and (3) of this section and shall be determined by and distributed from the availability of royalties from oil and gas leases in the Fayetteville Shale that the Arkansas State Game and Fish Commission receives or from other sources that are not from the Arkansas State Game and Fish Commission.

(b)

(1) The Rural Services Division of the Arkansas Economic Development Commission and the Arkansas State Game and Fish Commission agree to execute a memorandum of understanding to delineate each party's participation, obligation, and cooperation in the program sufficient to fulfill the requirements of this section.

(2) The division and the Arkansas State Game and Fish Commission agree to review the memorandum of understanding every two (2) years to evaluate the effectiveness and success of the program and to reexamine the need for moneys to be made available to the division to fund the development of wildlife recreation facilities.

(3) If both the Arkansas State Game and Fish Commission and the division agree that the program meets or exceeds the purpose of the legislation or agree that to discontinue the program would result in an undue disruption of progress, the parties shall reexecute a memorandum of understanding under subdivision (b)(1) of this section.

(c) An agreement for funding in a memorandum of understanding under subdivision (b)(1) of this section and a distribution of money under this subchapter require the final approval of the Arkansas State Game and Fish Commission.

(d) The maximum grant amount for a single project funded under the program is one hundred thousand dollars ($100,000) per year.