(a) There is established within the Treasury of the Virgin Islands a separate and distinct fund to be designated and known as the “The Motorcycle Safety Education Program Fund” (hereinafter, in this section referred to as the “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 made available for expenditure from the Fund, except as provided by law. All monies in the Fund shall remain available until expended.
(b) The Fund shall consist of the following revenue that shall be credited to the Fund:
(1) The annual registration fee for each registered motorcycle as provided in 20 V.I.C., § 433(a);
(2) The application fee for a motorcycle learners permit as provided in 20 V.I.C., § 433(a);
(3) The fee for each original or renewal motorcycle driver's license or endorsement as provided in 20 V.I.C., § 433(a); and
(4) Any appropriations made to the fund by the Legislature from time to time.
(c) Monies shall be disbursed from the Fund by the Commissioner of Finance, upon warrant of the Certifying Officer of the Bureau of Motor Vehicles, for the administration and implementation of the Motorcycle Safety Education Program.
(d) At the end of each fiscal year, monies remaining in the Fund are retained in the Fund and do not revert to the General Fund. The interest and income earned on money in the Fund, after deducting any applicable charges, must be credited to the Fund.