(1) The Virgin Islands Coastal Protection Fund is established to be used by the Department as a revolving fund for carrying out the purposes of this chapter. The fund shall be limited to the sum of one million ($1,000,000) dollars. To this fund shall be credited all license fees, penalties and other fees and charges related to this chapter, including administrative expenses, and costs of removal of discharges of pollution.
(2) Moneys in the fund not needed currently to meet the obligations of the Department in the exercise of its responsibilities under this chapter shall be deposited with the Commissioner of Finance to the credit of the fund and may be invested in such manner as is provided for by statute. Interest received on such investment shall be credited to the Virgin Islands Coastal Protection Fund.
(3) Each registrant shall obtain from the Department a license for each of the terminal facilities of the registrant in the territory and shall pay therefor an annual license fee, the amount of which is to be determined by the Department upon the basis of the total capacity of the terminal facility for oil and other pollutants, but in no event to exceed five hundred ($500) dollars. License fees for a part of a year shall be prorated.
(4) Whenever the balance in the fund has reached the limit provided under this section, and as long as it remains so, license fees shall be proportionately reduced to cover only administrative expenses.
(5) Moneys in the Virgin Islands Coastal Protection Fund shall be disbursed for the following purposes and no others:
(a) Administrative expenses, personnel expenses and equipment costs of the Department related to the enforcement of this chapter.
(b) All costs involved in the abatement of pollution related to the discharge of oil or petroleum products or their by-products and other pollutants covered by this chapter and the abatement of other potential pollution hazards as authorized herein.
(c) All costs and expenses of the cleanup and rehabilitation of waterfowl and other wildlife, whether performed by the Department or other agency.
(6) The Department shall recover to the use of the fund from the person or persons causing the discharge jointly and severally all sums expended therefrom, including overdrafts, under paragraphs (b) and (c) of subsection (5), except that recoveries resulting from damage due to an oil pollution or other similar disaster shall be apportioned between the Virgin Islands Coastal Protection Fund and the general fund so as to repay the full costs to the general fund of any sums disbursed therefrom as a result of such disaster.
(a) Requests for reimbursement to the fund for the above costs, if not paid within thirty (30) days of demand, shall be turned over to the Department of Law which shall undertake the collection.
(b) Upon petition of the person determined to be liable for reimbursement to the fund for abatement costs under this subsection the Department may, after hearing, waive the right to reimbursement to the fund from such person if the Department finds that occurrence was the result of any of the following:
1. An act of war;
2. An act of government, either territorial or federal;
3. An act of God, which means an unforeseeable act exclusively occasioned by the violence of nature without the interference of any human agency;
4. An act or omission of a third party without regard to whether any such act or omission was or was not negligent.
The findings of the Department shall be conclusive, as it is the legislative intent that the waiver provided in this paragraph is a privilege conferred, not a right granted.