DE SB75

Modifies the Parks Endowment Account to allow expenditure of up to 5% annually on a five-year rolling average of the account's value for capital-related purposes, replacing the previous restriction to only interest and investment yield.

Restructures the Delaware Land and Water Conservation Trust Fund by eliminating the "Earnings Account" and "Stewardship Account" designations, replacing them with an "Infrastructure Account" for critical outdoor recreation facility needs.

Directs up to 5% annually of the Endowment Account's value (on a five-year rolling average) to be distributed as 2/3 to the Outdoor Recreation, Parks and Trails Program and 1/3 to the Stewardship Program for local and state projects.

Establishes the "Outdoor Recreation, Park and Trails Program" as a local government matching grants program and increases the maximum Conservation Trust Fund contribution to projects from 50% to 75% of total project costs.

Requires the Secretary to maintain annual accounting of all Land and Water Trust fund expenditures and report to the General Assembly, and allows administrative costs for fund administration to be eligible for funding.