(1) Nothing in this article alters or affects funds previously administered by the former wildlife commission or the former board of parks and outdoor recreation; except that the parks and wildlife commission shall administer such funds.

(2) The commission shall adopt policies, procedures, or accounting methods to ensure transparency and prevent the unauthorized commingling or impermissible use of moneys in distinct funds, to ensure that moneys are expended consistent with the purposes for which they are received, collected, or appropriated, and to ensure that appropriate records are maintained for audit purposes.

(3) (a) The commission shall segregate all moneys received pursuant to section 3 (1)(b)(II) of article XXVII of the state constitution from all other moneys and shall spend these moneys solely for development and improvement of new and existing state parks, recreation areas, and recreational trails.

(b) The commission shall segregate all moneys received pursuant to section 5 (1)(a)(I) of article XXVII of the state constitution and spend these moneys solely for investments in the wildlife resources of Colorado, including the protection and restoration of crucial wildlife habitats, appropriate programs for maintaining Colorado's diverse wildlife heritage, wildlife watching, and educational programs about wildlife and wildlife environment, consistent with the purposes set forth under section 1 (1)(a) of article XXVII.

(c) The commission shall segregate all moneys received pursuant to section 5 (1)(a)(II) of article XXVII of the state constitution and spend these moneys solely for investments in the outdoor recreation resources of Colorado, including the state parks system, trails, public information and environmental education resources, and water for recreational facilities, consistent with the purposes set forth under section 1 (1)(a) of article XXVII.

(4) Repealed.