3.2-2905 - Virginia Agricultural Foundation Fund established. - Virginia Statutes

§ 3.2-2905. Virginia Agricultural Foundation Fund established.

There is hereby established in the state treasury a special nonreverting fundto be designated as the Virginia Agricultural Foundation Fund, hereafterreferred to as "the Fund." The Fund shall be established on the books ofthe Comptroller. All transfers made to the Fund under §§ 3.2-3617, 3.2-3710,3.2-4004, 3.2-4814, 58.1-2259, and 58.1-2289, other moneys appropriatedthereto, gifts and grants, and interest accruing thereon shall be paid intothe state treasury and credited to the Fund. Interest earned on moneys in theFund shall remain in the Fund and be credited to it. Any moneys remaining inthe Fund, including interest thereon, at the end of each fiscal year shallnot revert to the general fund but shall remain in the Fund. The Fund shallbe expended in accordance with the directions of the Agricultural Council anddrawn from the state treasury in the manner provided by law.

(Code 1950, § 3-16.9; 1966, c. 536, § 3.1-22.5; 1970, c. 457; 1976, c. 91;1994, cc. 577, 649, 740, 743; 2008, c. 860.)