3.2-1704 - Virginia Horse Industry Promotion and Development Fund established. - Virginia Statutes

§ 3.2-1704. Virginia Horse Industry Promotion and Development Fundestablished.

A. There is hereby created in the state treasury a special nonreverting fundto be known as the Virginia Horse Industry Promotion and Development Fund,hereafter referred to as "the Fund." The Fund shall be established on thebooks of the Comptroller. All assessments collected pursuant to this chaptershall be paid into the state treasury and credited to the Fund. Interestearned on moneys in the Fund shall remain in the Fund and be credited to it.Any moneys remaining in the Fund, including interest thereon, at the end ofeach fiscal year shall not revert or be transferred to the general fund butshall remain in the Fund. Moneys in the Fund shall be used solely for thepurpose of carrying out the provisions of this chapter.

B. The Auditor of Public Accounts shall audit all the accounts of the HorseIndustry Board as provided in § 30-133.

C. Expenditures and disbursements from the Fund shall be made by the HorseIndustry Board on warrants issued by the Comptroller upon written requestsigned by a duly authorized officer of the Horse Industry Board.

(2005, cc. 497, 588, § 3.1-22.58; 2008, c. 860.)