(a) There is established a separate and distinct fund within the Treasury of the Virgin Islands the “Tourism Advertising Revolving Fund” (hereinafter, the “Fund”). The Commissioner of Finance shall maintain and provide for the administration of the Fund and no amounts therein shall be available for expenditure except as provided in this section.
(b) The Fund shall consist of all sums appropriated thereto from time to time by the Legislature, all monies received by the Government pursuant to section 54 and section 55 of this Title, and Title 9, section 133, Virgin Islands Code, and all gifts, contributions and bequests of all monies made thereto.
(c) Monies deposited in the Fund shall be disbursed by the Commissioner of Finance, upon warrant of the Commissioner of Tourism, for utilization of the Department of Tourism for advertising of the Territory as a tourist destination and for industrial promotion; and to the Bureau of Economic Research within the Office of the Governor, upon appropriation from the Legislature of the Virgin Islands, to conduct traveler exit surveys and other related tourism and economic studies and activities provided, however, not less than five percent of the annual receipts shall be expended for destination promotion of the District of St. Croix and the District of St. Thomas-St. John.
(d) The Commissioner of Finance shall annually forward to the Governor and the Legislature, and shall make available to the public, a detailed accounting of the disbursements from the Fund and the unobligated balance thereof.