3-2607. Commercial feed trust fund; exemption
232 words·~1 min read·
/az/title-3/3-2607A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The commercial feed trust fund is established for the exclusive purpose of implementing, continuing and supporting the agricultural program established by this article. All monies collected under this article shall be deposited in the trust fund.
B. The director shall administer the trust fund as trustee. Each year the director shall distribute not more than fifty thousand dollars from the trust fund to execute the ALIRT agreement.
C. The state treasurer shall accept, separately account for and hold in trust any monies deposited in the state treasury, that are considered to be trust monies as defined in section 35-310 and that shall not be commingled with any other monies in the state treasury except for investment purposes. On notice from the director, the state treasurer shall invest and divest any trust fund monies deposited in the state treasury as provided by sections 35-313 and 35-314.03, and monies earned from investment shall be credited to the trust fund.
D. The beneficiary of the trust is the agricultural program established by this article. The trust fund shall be used solely for the purposes of this article on the order of the director.
E. The commercial feed trust fund is exempt from the provisions of section 35-190 relating to lapsing appropriations. Surplus monies, including any unexpended and unencumbered balance at the end of the fiscal year, do not revert to the state general fund.