The Michigan nongame fish and wildlife trust fund is established. The Michigan nongame fish and wildlife trust fund shall consist of revenue designated by a member of the public for the benefit of nongame fish and wildlife.

    The Michigan nongame fish and wildlife trust fund may also receive gifts, grants, bequests, or assets from any source and may receive other revenues as authorized by law.

    The assets of the Michigan nongame fish and wildlife trust fund shall be invested as provided by law. The interest and earnings from these investments shall be credited to the Michigan nongame fish and wildlife trust fund.

    The Michigan nongame fish and wildlife trust fund shall maintain a principal balance of not less than $6,000,000.00.

    The interest and earnings of the Michigan nongame fish and wildlife trust fund and other revenues not retained on a permanent basis shall be expended only for the following:

    (a) The management of nongame fish and wildlife species consistent with a long-range plan for the management of Michigan’s nongame fish and wildlife resources.

    (b) Grants to state colleges and universities to implement programs funded by the Michigan nongame fish and wildlife trust fund.

    (c) The administration of the Michigan nongame fish and wildlife trust fund.