(1) The board shall allocate project costs based on the economic costs and benefits of the developed water and electricity among the following water uses: (a) municipal and industrial; (b) electricity; (c) public recreation; and (d) fish and wildlife.
(a) municipal and industrial;
(b) electricity;
(c) public recreation; and
(d) fish and wildlife.
(2) The state shall pay the nonreimbursable project costs allocated to recreation and fish and wildlife.