                                 CODE OF VIRGINIA

CAPITAL IMPROVEMENT FUND (§ 29.1-101.01)

There is hereby created in the state treasury a special, nonreverting fund to be
known as the Capital Improvement Fund, hereafter referred to as &#8220;the
Fund.&#8221; The Fund shall consist of those funds that may be so designated by
the Board and any gifts, grants, and contributions from any person, foundation,
or other legal entity. In addition, the Board may transfer to this Fund an
amount equal to fifty percent or less of the revenue generated annually from the
sales and use tax which has been deposited in the Game Protection Fund pursuant
to subsection E of § 58.1-638. The income and principal in the Fund shall be
used only for the purchase, construction, maintenance, or repair of capital
assets of the Department.
		The Fund shall be established on the books of the Comptroller. All moneys
received shall be paid into the state treasury and credited to the Fund.
Interest earned on the moneys in the Fund shall remain in the Fund and be
credited to the Fund. 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, except as provided in subsection E of § 58.1-638.

HISTORY: 1998, c. 320.