(1) The legislature finds that the department has a need to maintain the real property asset base it manages and needs an accounting mechanism to complete transactions without reducing the real property asset base.

     (2) The natural resources real property replacement account is created in the state treasury. This account shall consist of funds transferred or paid for the disposal or transfer of real property by the department under RCW 79.17.200. The funds in this account shall be used solely for the acquisition of replacement real property and may be spent only when, and as, authorized by legislative appropriation.

[2003 c 334 § 118; 1992 c 167 § 1. Formerly RCW 43.30.265.]

NOTES:

     Intent -- 2003 c 334: See note following RCW 79.02.010.