                                 CODE OF VIRGINIA

ESTABLISHMENT OF FUND; UNEXPENDED MONEY (§ 10.1-709)

A. A special fund to be known as the Public Beach Maintenance and Development
Fund shall be established to provide grants to local governments covering up to
one-half of the costs of erosion abatement measures designed to conserve,
protect, improve, maintain and develop public beaches. No grants to any locality
shall exceed 30 percent of the money appropriated to such fund for the biennium
unless otherwise provided for in the current general appropriations act. Money
appropriated from such fund shall be matched equally by local funds. Federal
funds shall not be used by localities to match money given from the fund.
Localities may, however, combine state and local funds to match federal funds
for purposes of securing federal grants. Interest earned or moneys received by
the Fund shall remain in the Fund and be credited to it. Any money remaining in
the Fund at the close of the first fiscal year of a biennium shall not revert to
the general fund and shall be reappropriated and allotted.

B. Up to $250,000 per year of the money deposited to the Fund including interest
accrued may be used for the Board&#8217;s administrative and operating expenses
including but not limited to expenses of the Board and its members, and expenses
related to duties outlined in &#xA7;&#xA7; 10.1-701, 10.1-702, 10.1-703,
10.1-706, and 10.1-707. All such expenditures shall be subject to approval by
the Board.

C. Money that remains unobligated by the Board from the fund at the end of the
biennium for which it was appropriated shall be retained and shall become a
Special Emergency Assistance Fund to be used at the discretion of the Governor
for the emergency conservation and development of public beaches damaged or
destroyed by an unusually severe storm, hurricane or other natural disaster.

HISTORY: 1980, c. 428, § 10-220; 1982, c. 329; 1986, c. 152; 1988, c. 891;
2003, cc. 79, 89.