10.1-1248 - Fees; Environmental Covenants Fund established. - Virginia Statutes

§ 10.1-1248. Fees; Environmental Covenants Fund established.

A. The Department shall establish fees, to be paid by the fee simple owner ofthe real property subject to the covenant, which shall be assessed for thepurpose of funding the costs of administering the provisions of this chapterand shall be used solely for the purposes specified in this chapter.

B. There is hereby created in the state treasury a special nonreverting fundto be known as the Environmental Covenants Fund, hereafter referred to as"the Fund." The Fund shall be established on the books of the Comptroller.Notwithstanding the provisions of § 2.2-1802, all moneys collected pursuantto this section shall be paid into the state treasury and credited to theFund. Interest earned on moneys in the Fund shall remain in the Fund and becredited to it. Any moneys remaining in the Fund, including interest thereon,at the end of each fiscal year shall not revert to the general fund but shallremain in the Fund. Moneys in the Fund shall be used solely for the purposesdescribed in subsection A. Expenditures and disbursements from the Fund shallbe made by the State Treasurer on warrants issued by the Comptroller uponwritten request signed by Director. The Fund shall be exempt from statewideindirect costs charged and collected by the Department of Accounts.

(2010, c. 691.)