(a) There is established in the Treasury of the Government of the Virgin Islands a special fund, separate and apart from all other public money or funds of the Government of the Virgin Islands, to be known as the “Labor Administrative and Training Fund” (hereinafter the “Fund”).
(b) The Fund shall consist of the surcharge collected under the provisions of section 98 of this subchapter. Moneys in the fund may not be commingled with other funds of the Government of the Virgin Islands, but shall be maintained in a separate account on the books of the depository bank.
(c)
(1) The Commissioner of Finance shall be the custodian of the Fund. Monies in the Fund shall be disbursed from the Fund by the Commissioner of Finance at the direction of the Commissioner of Labor exclusively for the purposes provided in subsection (d) of this section.
(2) The Commissioner of Finance shall be liable on his official bond for the faithful performance of his duties in connection with the Fund. The liability on the official bond shall be effective immediately upon the enactment of this section, and the liability exists in addition to the liability upon any other separate bond that may be given by the Commissioner. All funds recovered on any official bond for losses sustained by the Fund shall be deposited into the Fund. The premium for the official bond authorized under this subsection shall be paid from the fund.
(3) Monies in the Fund shall remain available to the Commissioner of Labor until expended.
(d) The moneys in the Fund shall be used exclusively for the following purposes:
(1) $100,000 of the money collected each fiscal year under this subchapter shall be appropriated to the Department of Labor to administer the provisions of section 98 of this subchapter including the payment of salaries. The payment of the administrative expenses provided for under this paragraph shall be appropriated and apportioned before any other appropriation is made in accordance with the provisions of this subsection.
(2) Forty percent of the monies collected each fiscal year shall be deposited into the Union Arbitration Award and Government Employees Increment Fund established in title 33, section 3066, of this Code.
(3) Twenty percent of the monies collected each fiscal year shall be appropriated to the Division of Personnel to train government employees.
(4) Forty percent of the monies collected each fiscal year shall be used to train eligible persons, as defined in section 81(8) of this title, in the areas of computer programming, computer repairs, computer security, web page designing, electronics maintenance and other related areas associated with the computer, internet, and electronics industries.