A. All moneys collected from the civil penalties imposed pursuant to § 10.1-1424.3, from the taxes imposed under §§ 58.1-1700 through 58.1-1710, and by the taxes increased by Chapter 616 of the 1977 Acts of Assembly, shall be paid into the treasury and credited to a special nonreverting fund known as the Litter Control and Recycling Fund, which is hereby established. The Fund shall be established on the books of the Comptroller. Any moneys remaining in the Fund shall not revert to the general fund but shall remain in the Fund. Interest earned on such moneys shall remain in the Fund and be credited to it. The Director is authorized to release money from the Fund on warrants issued by the Comptroller after receiving and considering the recommendations of the Advisory Board for the purposes enumerated in subsection B.
B. Moneys from the Fund shall be expended, according to the allocation formula established in subsection C, for the following purposes:
1. Local litter prevention and recycling grants to localities that meet the criteria established in § 10.1-1422.04;
2. Payment to (i) the Department to process the grants authorized by this article and (ii) the actual administrative costs of the Advisory Board. The Director shall assign one person in the Department to serve as a contact for persons interested in the Fund; and
3. The operation of public information campaigns to discourage the sale and use of expanded polystyrene products and to promote alternatives to expanded polystyrene.
C. All moneys deposited into the Fund shall be expended pursuant to the following allocation formula:
1. Ninety percent for grants made to localities pursuant to subdivision B 1;
2. Up to a maximum of five percent for the actual administrative expenditures authorized pursuant to subdivision B 2; and
3. Up to a maximum of five percent for the operation of public information campaigns pursuant to subdivision B 3.