3.2-4004 - Seed Fund; established. - Virginia Statutes

§ 3.2-4004. Seed Fund; established.

There is hereby created in the state treasury a special nonreverting fund tobe known as the Seed Fund, hereafter referred to as the "Fund." The Fundshall be established on the books of the Comptroller. All fees andassessments paid pursuant to this article shall be paid into the statetreasury and credited to the Fund. Interest earned on moneys in the Fundshall remain in the Fund and be credited to it. Any moneys remaining in theFund, including interest thereon, at the end of each fiscal year shall notrevert to the general fund but shall remain in the Fund. Moneys in the Fundshall be used solely for carrying out the purpose of this article, exceptthat the Commissioner shall deposit 50 percent of the inspection fee to thecredit of the Virginia Agricultural Foundation Fund. The VirginiaAgricultural Council shall administer all funds received from this sectionfor the exclusive funding of lawn and turf research.

(1994, c. 577, § 3.1-275.7; 2008, c. 860.)