10.1-1422.01 - Litter Control and Recycling Fund established; use of moneys; purpose of Fund.
§ 10.1-1422.01. Litter Control and Recycling Fund established; use of moneys;purpose of Fund.
A. All moneys collected from the taxes imposed under §§ 58.1-1700 through58.1-1710 and by the taxes increased by Chapter 616 of the 1977 Acts ofAssembly, shall be paid into the treasury and credited to a specialnonreverting fund known as the Litter Control and Recycling Fund, which ishereby established. The Fund shall be established on the books of theComptroller. Any moneys remaining in the Fund shall not revert to the generalfund but shall remain in the Fund. Interest earned on such moneys shallremain in the Fund and be credited to it. The Director is authorized torelease money from the Fund on warrants issued by the Comptroller afterreceiving and considering the recommendations of the Advisory Board for thepurposes enumerated in subsection B of this section.
B. Moneys from the Fund shall be expended, according to the allocationformula established in subsection C of this section, for the followingpurposes:
1. Local litter prevention and recycling grants to localities that meet thecriteria established in § 10.1-1422.04; and
2. Payment to (i) the Department to process the grants authorized by thisarticle and (ii) the actual administrative costs of the Advisory Board. TheDirector shall assign one person in the Department to serve as a contact forpersons interested in the Fund.
C. All moneys deposited into the Fund shall be expended pursuant to thefollowing allocation formula:
1. Ninety-five percent for grants made to localities pursuant to subdivisionB 1 of this section; and
2. Up to a maximum of 5% for the actual administrative expendituresauthorized pursuant to subdivision B 2 of this section.
(1995, c. 417; 2006, c. 6; 2009, c. 409.)