(1)(a) The derelict structure removal account is created in the state treasury. All receipts from mitigation credit programs and those moneys specified must be deposited into the account. The account is authorized to receive fund transfers and appropriations from the general fund, as well as gifts, grants, and endowments from public or private sources as may be made from time to time, in trust or otherwise, for the use and benefit of the purposes of this chapter and expend the same or any income according to the terms of the gifts, grants, or endowments provided those terms do not conflict with any provisions of this section or any guidelines developed to prioritize reimbursement of projects associated with this chapter.

(b) Funds in the account resulting from transfers from the general fund should be prioritized for the removal of large structures.

(c) Moneys in the account may only be spent after appropriation.

(2) Priority for use of this account is for the removal, remediation, and revitalization of derelict aquatic structures that are in danger of collapsing, breaking up, or blocking navigation channels, or that present environmental risks or significant habitat impacts. The department must develop criteria, in the form of informal guidelines, to prioritize removal projects associated with this chapter, but may not consider whether the applicant is a state or local entity when prioritizing by January 1, 2024.