Agriculture Revolving Fund

  1. Law
  2. US Virgin Islands Code
  3. Taxation and Finance
  4. Finance
  5. Government Funds
  6. Agriculture Revolving Fund

Checkout our iOS App for a better way to browser and research.

  • (a) There hereby is created and established in the Treasury of the Virgin Islands a special fund to be designated the “Agriculture Revolving Fund”.

  • (b) The Commissioner of Finance is directed to maintain and provide for the administration of the Agriculture Revolving Fund as a separate and distinct fund in the Treasury, and no funds therein shall be available for expenditure except as provided in this section.

  • (c) The Agriculture Revolving Fund shall be constituted of:

    • All balances of monies deposited in the account known as X-4–52 Agriculture Operating Project, St. Croix; All revenues derived by the Department of Agriculture from the sale of agricultural products, livestock feeds, fruit trees, ornamentals, animals and water, all fees and fines collected under 7 V.I.C., chapter 1; and the rental of agricultural equipment; and All revenue from the rental or lease of government-owned lands for farming. An annual appropriation of $500,000 from the General Fund of the Government of the Virgin Islands.
  • Not less than $1,000,000 from the Tourism Advertising Revolving Fund annually deposited by June 30th of each year.

  • (d) All monies pertaining to the Agriculture Revolving Fund shall be disbursed by the Commissioner of Finance, exclusively for expenditures by the Department of Agriculture for the purchase of seeds, fertilizers, insecticides, fungicides and other agricultural chemicals, and for the purchase of animals, fruit trees, ornamental plants, livestock feeds and agricultural and farm equipment, for the production and encouragement of grafted fruit trees, ornamental plants and livestock feeds locally and for employment of temporary agricultural workers for planting and reaping for the purchase of real property and the development and promotion of the agriculture industry. No more than 10 percent of the Agriculture Revolving Fund may be used for administrative purposes.


Download our app to see the most-to-date content.