There is within the Department a Land Trust Grant Fund. The Grant Fund shall be used as a nonlapsing revolving fund to make grants to land trusts in the State. The Grant Fund may be used only to encourage the preservation and protection of open space and natural areas in the State. When deemed appropriate by the Trust, grants from the Grant Fund to land trusts shall be reimbursable to the Grant Fund, subject to § 3–2A–08 of this subtitle. The Maryland Environmental Trust shall administer the Grant Fund. In addition to their other powers and duties under this title, the trustees of the Trust may take any action necessary or proper to administer the Grant Fund. Funds shall be included in the Department’s annual budget for the costs of administering the Grant Fund.