(1) There is hereby created a fund to be known as the Youth Conservation Corps Fund.
(2) All money made available to the Youth Conservation Corps Fund under the provisions of the federal Youth Conservation Corps Act, as amended, and all money made available for matching purposes by state appropriations shall be remitted to the State Treasurer for credit to such fund.
(3) Money in the fund shall be used by the Game and Parks Commission pursuant to the federal Youth Conservation Corps Act, as amended, and also Public Law 93-408, 93rd Congress, for financing project costs thereunder.
(4) The commission may make grants-in-aid to political subdivisions of this state from money available in the Youth Conservation Corps Fund upon such terms and in such amounts as the commission determines.
(5) Any money in the fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act.