A lake area planning commission shall have the authority to adopt, amend, extend, add to and implement a comprehensive plan for the betterment of its jurisdictional area as a place of residence and business. It may consider any subject matter tending to the betterment of its jurisdictional area and make recommendations as it may deem advisable to the appropriate governing body, agency or department. In execution of its duties, the commission shall function as an advisory, consultative and coordinating agency.

Any county participating in a lake area planning commission is hereby granted authority to establish zoning regulations, a building code, construction codes, an energy code and a housing code for all areas within the jurisdiction of the commission, and further provided that the county is hereby granted authority to adopt, amend, add to or carry out within the jurisdiction of the commission, all additional elements of a comprehensive planning program including, but not limited to, plans for major streets and highways and other elements of water, rail, air and land transportation plans, public utilities and facilities plans, capital improvement programs, uniform regulations for the subdivision of land and for the improvements located thereon, building line regulations, floodplain management regulations and conservation plans.

The commission shall elect its chairman and other officers from its appointed members.

All meetings of the commission shall be open to the public. It shall adopt rules for the transaction of business and keep a complete public record of its functions and activities.

Funds for the operation of a lake area planning commission may be appropriated by any county, city or town participating in the planning commission. The commission may appoint employees or contract for services as it may deem necessary and incur necessary expenses within the limits of the appropriations, subject to the approval of the appropriate governing bodies.

The lake area planning commission may, subject to approval of the appropriate governing bodies, establish a schedule of fees to be paid for review and inspection functions; provided, that the fees shall be reasonable and related to the costs of rendering review and inspection functions and shall not be applied to the sale or transfer of real property.