(a) There is hereby established in the Treasury of the Virgin Islands, a fund to be known as the Youth Transitional Employment Fund. The fund shall consist of one-hundred percent of the monies collected under subsection (b) of this section, any funding from the federal government, any funds appropriated thereto from time to time by the Legislature and all gifts, contributions, and requests made thereto. All contributions to the fund shall remain available until expended from the purposes enumerated under this section.
(b) The Commissioner of Finance shall deposit all of the fees collected under Title 23, Section 455(b), Virgin Islands Code and Title 27, Section 302(a), Virgin Islands Code, (“Firearms and ammunition—distributor or wholesaler; Firearms and ammunition—retail sales; Firearms and ammunition—gunsmith”) into the Youth Transitional Employment Fund.
(c) Monies shall be disbursed from the fund by the Commissioner of Finance upon the authorization of the Commissioner of Labor for the purpose of carrying out the provisions of the Youth Transitional Employment Program as provided under Title 24, Chapter 19 of this code. Monies appropriated under this act shall not be used for any purpose other than for the payment to employers and administrative costs as provided for in Section 617 therein.