(1) The Niobrara Council Fund is created. The fund shall be administered by the Niobrara Council. The council may accept any private or public funds to carry out its work and such funds shall be remitted to the State Treasurer for credit to the fund. The fund shall consist of such funds and legislative appropriations made to the council. Transfers may be made from the fund to the General Fund at the direction of the Legislature through June 30, 2011. Any money in the Niobrara Council 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.

(2) The State Treasurer shall, on March 31, 2016, transfer the balance of any money in the Nebraska Youth Conservation Program Fund, after the transfer of one hundred thousand dollars to the Cowboy Trail Fund as provided for in subsection (2) of section 37-913 has been made, to the Niobrara Council Fund.