A. For the purpose of preventing traumatic spinal cord or brain injuries and improving the treatment and care of Virginians with traumatic spinal cord or brain injuries, there is hereby created in the state treasury a special nonreverting fund to be known as the Commonwealth Neurotrauma Initiative Trust Fund, hereinafter referred to as the “Fund.” The Fund shall be established on the books of the Comptroller as a revolving fund and shall be administered by the Commonwealth Neurotrauma Initiative Advisory Board in cooperation with the Commissioner. The Fund shall consist of grants, donations, and bequests from public and private sources and funds collected as provided in § 46.2-411. Such moneys shall be deposited into the state treasury to the credit of the Fund and shall be used for the purposes of this article.
B. 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. The Fund shall be administered by the Commissioner and distributed according to the grant procedures established pursuant to § 51.5-181. Moneys in the Fund shall be used to support grants for Virginia-based organizations, institutions, and researchers as follows: (i) 47.5 percent shall be allocated for research on the mechanisms and treatment of neurotrauma, (ii) 47.5 percent shall be allocated for rehabilitative services, and (iii) five percent shall be allocated for the Department’s costs for administering and staffing the Commonwealth Neurotrauma Initiative Advisory Board.