1. There is hereby created in the State Treasury the Fund for the Preservation and Promotion of Cultural Resources. The Commission is responsible for the administration of the Fund. All money received and held by the State Treasurer for that purpose must be deposited in the Fund. The Commission shall account separately for money received from the proceeds of bonds issued pursuant to NRS 383.530.
2. The Commission may expend money in the Fund only:
(a) For projects identified in the Commission’s plan to promote and preserve the State’s cultural resources pursuant to NRS 383.500 to 383.540, inclusive. In addition to the amount of financial assistance granted from the proceeds of bonds issued pursuant to NRS 383.530, the Commission may grant as financial assistance not more than $750,000 each calendar year of the interest earned on the deposit or investment of the money in the Fund; and
(b) For any administrative services provided by the Commission. The Commission may not use more than 5 percent of the proceeds from any particular issuance of bonds to pay for the administrative services.
3. The money in the Fund must be invested as the money in other state funds is invested. All interest on the deposit or investment of the money in the Fund must be credited to the Fund.
4. Claims against the Fund must be paid as other claims against the State are paid.
(Added to NRS by 2015, 72; A 2015, 140)
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