Arizona Laws 3-525.02. Produce safety trust fund
A. The produce safety trust fund is established for the exclusive purpose of implementing, continuing and supporting the agricultural program established pursuant to this article. The trust fund consists of:
Terms Used In Arizona Laws 3-525.02
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Department: means the Arizona department of agriculture. See Arizona Laws 3-101
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Trustee: A person or institution holding and administering property in trust.
1. Monies appropriated by the legislature for that purpose.
2. Monies collected pursuant to this article.
3. Gifts, grants and other donations from public or private sources and designated for deposit in the trust fund.
B. Monies in the produce safety trust fund are continuously appropriated to the department and shall be used solely for the purpose of administering and enforcing this article.
C. The director shall administer the produce safety trust fund as trustee. The state treasurer shall accept, separately account for and hold in trust any monies deposited in the state treasury under this section, which are considered to be trust monies as defined in section 35-310 and which may 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 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.
D. The beneficiary of the trust is the agricultural program established pursuant to this article.
E. Monies in the produce safety 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 but shall be carried forward to the following year.
F. The department shall maintain a detailed accounting of all monies deposited in and disbursed from the produce safety trust fund.