                                 CODE OF VIRGINIA

FEES; ENVIRONMENTAL COVENANTS FUND ESTABLISHED (§ 10.1-1248)

A. The Department shall establish fees, to be paid by the fee simple owner of
the real property subject to the covenant, which shall be assessed for the
purpose of funding the costs of administering the provisions of this chapter and
shall be used solely for the purposes specified in this chapter.

B. There is hereby created in the state treasury a special nonreverting fund to
be known as the Environmental Covenants Fund, hereafter referred to as
&#8220;the Fund.&#8221; The Fund shall be established on the books of the
Comptroller. Notwithstanding the provisions of &#xA7; 2.2-1802, all moneys
collected pursuant to this section 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. Moneys in the Fund shall be used solely for the
purposes described in subsection A. Expenditures and disbursements from the Fund
shall be made by the State Treasurer on warrants issued by the Comptroller upon
written request signed by Director. The Fund shall be exempt from statewide
indirect costs charged and collected by the Department of Accounts.

HISTORY: 2010, c. 691.