Virginia Code 46.2-749.2: Special Chesapeake Bay preservation plates; fees; fund
A. There is hereby created in the state treasury a special nonreverting fund to be known as the Chesapeake Bay Restoration Fund (the Fund). The Fund shall be established on the books of the Comptroller. All funds received on its behalf from the sale of license plates issued pursuant to this section, and any gifts, donations, grants, bequests, and other funds received on its behalf, shall be paid into the state treasury and credited to the Fund. Interest earned 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 of each fiscal year shall not revert to the general fund but shall remain in the Fund.
Terms Used In Virginia Code 46.2-749.2
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
B. Moneys in the Fund shall be used solely for the purposes of environmental education and restoration and conservation projects relating to the Chesapeake Bay and its tributaries. Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the Chesapeake Bay Restoration Fund Advisory Committee created pursuant to § 30-256.
C. On receipt of an application and payment of the fee prescribed by this section, the Commissioner shall issue special license plates bearing the legend FRIEND OF THE CHESAPEAKE.
D. The annual fee for plates issued pursuant to this section shall be $25 in addition to the prescribed fee for state license plates. For each such $25 fee collected in excess of 1,000 registrations pursuant to this section, $15 shall be paid into the state treasury and credited to the Fund. All other fees imposed under the provisions of this section shall be paid to, and received by, the Commissioner of the Department of Motor Vehicles and paid by him into the state treasury and set aside as a special fund to be used to meet the necessary expenses incurred by the Department of Motor Vehicles.