The bill establishes the McCook Lake contingency fund within the state treasury, which will consist of all designated moneys for the fund. The fund is intended to provide grants for the cleanup and restoration of McCook Lake, including necessary infrastructure improvements like the replacement of pipes in the pumping system and planning for flood mitigation. The state treasurer is tasked with administering this fund, and any interest accrued will remain within it.

Additionally, the bill mandates the transfer of $1 from the general fund to the newly created McCook Lake contingency fund. The provisions of this Act will take effect on June 30, 2025.