(1) The land and water management permit fee fund is created within the state treasury.

    (2) The state treasurer may receive money or other assets from any source for deposit into the fund. The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and earnings from fund investments. The state treasurer shall annually present to the department an accounting of the amount of money in the fund. The department shall be the administrator of the fund for auditing purposes.

    (3) Money in the fund at the close of the fiscal year shall remain in the fund and shall not lapse to the general fund.

    (4) The department shall expend money from the fund, upon appropriation, only to implement this part and the following:

    (a) Sections 3104, 3107, and 3108.

    (b) Part 303.

    (c) Part 315.

    (d) Part 323.

    (e) Part 325.

    (f) Part 339.

    (g) Part 353.

    (h) Section 117 of the land division act, 1967 PA 288, MCL 560.117.

    (5) The department shall annually report to the legislature how money in the fund was expended during the previous fiscal year.