2006 Code of Virginia § 10.1-1422.3 - Waste Tire Trust Fund established; use of moneys; purpose of Fund

10.1-1422.3. Waste Tire Trust Fund established; use of moneys; purpose ofFund.

A. All moneys collected pursuant to 58.1-642, minus the necessary expensesof the Department of Taxation for the administration of this tire recyclingfee as certified by the Tax Commissioner, shall be paid into the treasury andcredited to a special nonreverting fund known as the Waste Tire Trust Fund,which is hereby established. Any moneys remaining in the Fund shall notrevert to the general fund but shall remain in the Fund. Interest earned onsuch moneys shall remain in the Fund and be credited to it. The Department ofWaste Management is authorized and empowered to release moneys from the Fund,on warrants issued by the State Comptroller, for the purposes enumerated inthis section, or any regulations adopted thereunder.

B. Moneys from the Fund shall be expended to:

1. Pay the costs of implementing the waste tire plan authorized by 10.1-1422.1, as well as the costs of any programs created by the Departmentpursuant to such a plan;

2. Provide partial reimbursement to persons for the costs of using wastetires or chips or similar materials; and

3. Pay the costs to remove waste tire piles from property pursuant to 10.1-1418.4, to the extent funds are available from the increased revenuesgenerated by the increased tire recycling fee collected beginning July 1,2003, and ending July 1, 2006, in accordance with 58.1-641.

C. Reimbursements under 10.1-1422.4 shall not be made until regulationsestablishing reimbursement procedures have become effective.

(1993, c. 211; 2003, c. 101.)