(a) There is established in the Treasury of the Virgin Islands a special fund to be designated the “Taxi License Fund” which shall be a separate and distinct fund administered by the Commissioner of Finance. The Fund shall consist of all monies required to be covered into the Fund in accordance with Title 20, section 435, Virgin Islands Code.
(b) No money in the Fund shall be available for expenditure except as appropriated from the Fund for the operation of the Virgin Islands Taxicab Commission except that twenty percent of the revenue generated from the sale of medallions to veterans shall be appropriated to the Office of Veteran Affairs for operating costs and other related veteran benefit services or other purposes as specified by law.