3-2913. Aquaculture trust fund

228 words·~1 min read·/az/title-3/3-2913

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. The aquaculture trust fund is established for the exclusive purpose of implementing, continuing and supporting the agricultural program established by this article. The trust fund consists of revenues received from fees and all other sources under this article except civil penalties under section 3-2912. The monies collected constitute a separate and permanent fund for the use of the director in administering and enforcing this article.

B. The director shall administer the trust fund as trustee. The state treasurer shall accept, separately account for and hold in trust any monies deposited in the state treasury, which are considered to be trust monies as defined in section 35-310 and which 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.

C. The beneficiary of the trust is the agricultural program established by this article.

D. Any monies remaining unexpended in the fund on June 30 each year shall be carried forward to the following year and do not revert to the state general fund. The director shall take that amount into account in computing and setting fees under this article for that year.