(1) is paid pursuant to:

(A) the department of natural resources stream and wetland mitigation program; or

(B) another in lieu fee mitigation program;

(2) is paid to:

(A) the state government; or

(B) the Indiana natural resources foundation created by IC 14-12-1-4; and

(3) is applied toward the cost of:

(A) restoring, establishing, enhancing, or preserving aquatic resources in compensation for the alteration of other aquatic resources; and

(B) monitoring and providing long term management of the site where aquatic resources are restored, established, enhanced, or preserved with money provided by the fee.

As added by P.L.160-2021, SEC.5.