(a) There is hereby established in the Treasury of the Virgin Islands a special fund designated and known as the “Virgin Islands Drug Enforcement Bureau Force Forfeiture Fund”. The Commissioner of Finance shall maintain and provide for the administration of the Fund as a separate and distinct fund in the Treasury and no monies shall be available for expenditure therefrom except as provided in this section.
(b) The Virgin Islands Drug Enforcement Bureau Forfeiture Fund shall be used exclusively for the purpose of purchasing law enforcement equipment for use in the Drug Enforcement Bureau's crime fighting activities and for other necessary and related drug enforcement operations of the Drug Enforcement Bureau.
(c) Except as otherwise provided, the fund shall consist of the following:
(1) all forfeited property resulting from the involvement of the Virgin Islands Drug Enforcement Bureau in asset seizure and forfeiture operations under Title 19, section 623, subsections (a)(6) and (f) of this code;
(2) all sums appropriated thereto from time to time by the Legislature;
(3) such grants, contributions, gifts and bequests federal or local, as may be made thereto and which the Commissioner of Finance is hereby authorized to accept and deposit therein.
(d) Monies shall be disbursed from the Virgin Islands Drug Enforcement Bureau Forfeiture Fund by the Commissioner of Finance, upon authorization and direction of the Drug Policy Advisor to the Governor in accordance with the annual funding request approved by the Committee on Finance of the Legislature for the purchase of law enforcement equipment and for other necessary and related drug enforcement operations of the Drug Enforcement Bureau.
(e) The Commissioner of Finance shall maintain a record of all monies deposited into and disbursed from the Fund and shall submit quarterly reports to the Governor and the Legislature on the status of the Fund.