(1) There is created an expendable special revenue fund known as the Department of Agriculture and Food Laboratory Equipment Fund, which is referred to in this section as the "fund." (2) The fund consists of: (a) collections the Division of Laboratories within the department receives under this title that are not expended during the previous fiscal year; (b) appropriations from the Legislature; and (c) interest and earnings on the fund. (3) The state treasurer shall invest the money in the fund according to Title 51, Chapter 7, State Money Management Act, except that interest or other earnings derived from those investments shall be deposited into the fund. (4) The department may use money in the fund only to pay for the repair, replacement, or upgrade of laboratory equipment in accordance with this section. (5) The state chemist or the commissioner shall approve expenditures from the fund for laboratory equipment repair, replacement, or upgrade as follows: (a) the state chemist may approve using money in the fund to repair, replace, or upgrade laboratory equipment if the amount to be expended is less than $10,000; and (b) the state chemist shall obtain the approval of the commissioner for using money in the fund to repair, replace, or upgrade laboratory equipment if the amount to be expended equals or exceeds $10,000. (6) (a) Subject to the other provisions of this Subsection (6), the Division of Finance shall deposit into the fund the collections that the Division of Laboratories receives under this title that are not expended during a fiscal year. (b) The fund may not exceed $500,000 at the end of a fiscal year. (c) If the fund exceeds $500,000 at the end of the fiscal year, the Division of Finance shall deposit into the General Fund the money in excess of the amount necessary to maintain the fund balance at $500,000.
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