3-447. Citrus, fruit and vegetable trust fund; administration

346 words·~2 min read·/az/title-3/3-447

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

A. The citrus, fruit and vegetable trust fund is established for the exclusive purpose of implementing, continuing and supporting the agricultural programs established by this article and article 4 of this chapter. The trust fund consists of revenues from assessments and other monies designated for deposit in the trust fund by this article and article 4 of this chapter. The trust fund shall be used solely for the purpose of administering and enforcing this article and article 4 of this chapter.

B. The director shall administer the citrus, fruit and vegetable 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 any trust fund monies deposited in the state treasury pursuant to sections 35-313 and 35-314.03, and all interest earned on these monies shall be credited to the trust fund.

C. The beneficiaries of the trust are the agricultural programs established by this article and article 4 of this chapter.

D. Monies in the citrus, fruit and vegetable trust fund are exempt from the provisions of section 35-190 relating to lapsing of appropriations. Surplus monies, including any unexpended and unencumbered balance at the end of the fiscal year, do not revert to the state general fund.

E. The department shall make a detailed accounting on or before November 1 of each year of all monies paid into and disbursed from the citrus, fruit and vegetable trust fund during the preceding fiscal year and transmit the report to the citrus, fruit and vegetable advisory council on or before December 1.

F. Any monies remaining unexpended in the citrus, fruit and vegetable trust fund on June 30 of each year shall be carried forward to the following year, and the associate director shall take that amount into account in computing the assessments for that year.