The national guard training area and facility development trust fund is established as a special fund in the state treasury. The fund must be used for training area acquisition and facility development pursuant to this chapter.
The national guard training area and facility development trust fund consists of moneys transferred or credited to the fund, pursuant to this chapter and provisions of other laws. The state investment board shall invest the fund as authorized by section 21-10-07. All interest earned and income received on the investments accrue to the fund.
The principal, interest, and income from the national guard training area and facility development trust fund must be used by the adjutant general solely for training area acquisition and facility development; provided the principal, and any interest and income which the fund accrues from July 1, 2019, through June 30, 2023, must be used solely for the acquisition or lease of land for national guard training purposes at Camp Gilbert C. Grafton training center and the expenditure, in conjunction with federal matching funds, for the construction of new national guard armories.
For land acquired under this chapter, the adjutant general shall make payments in lieu of real estate taxes to the counties in which the property is located in the same manner and according to the same conditions and procedures as provided in chapter 57-02.1 for payments in lieu of real estate taxes by the director of the game and fish department, except no county may receive less in payments under this section for any parcel or tract of land for any year than the county received in real estate taxes for the last year in which the land was taxable.