45.1-161.292:47 - Mine Rescue Fund - Virginia Statutes

§ 45.1-161.292:47. Mine Rescue Fund.

The Mine Rescue Fund is created as a special fund in the office of the StateTreasurer. All moneys collected from licensed operators pursuant to theprovisions of § 45.1-161.292:46 shall be paid into the Mine Rescue Fund. OnJuly 1 of each year, or as soon thereafter as sufficient moneys are in theMine Rescue Fund as are needed for this purpose, ten percent of the fundshall be transferred from the fund to the Department for purposes ofadministering the state-designated mine rescue team program. On an annualbasis, funds in excess of the sum which is transferred for administrativepurposes shall be divided equally among all state-designated mine rescueteams. No moneys in the Mine Rescue Fund shall revert to the general fund.

(1997, c. 390; 1998, c. 695.)