A. There is hereby created in the state treasury a special nonreverting fund to be known as the Mine Rescue Fund, referred to in this section as "the Fund." The Fund shall be established on the books of the Comptroller. All moneys collected from licensed operators pursuant to the provisions of § 45.2-1140 shall be paid into the state treasury and credited to the Fund. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund.
B. Moneys in the Fund shall be used solely for the purposes of administering the state-designated mine rescue team program. Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the Director.
C. On July 1 of each year, or as soon thereafter as sufficient moneys are in the Fund, 10 percent of the moneys in the Fund shall be transferred from the Fund to the Department for purposes of administering the state-designated mine rescue team program. On an annual basis, funds in excess of the sum that is transferred for administrative purposes shall be divided equally among all state-designated mine rescue teams.
1997, c. 390, § 45.1-161.292:47; 1998, c. 695; 2021, Sp. Sess. I, c. 387.