(a) A special revenue account known as the “Military Authority Reimbursable Expenditure Fund” is hereby established in the state treasury. The purpose of the fund is to make moneys available to the Military Authority for expenditures that qualify for cost reimbursement pursuant to a cooperative agreement, grant, or other legal agreement with the federal government.

(b) The Adjutant General shall administer the fund.

(c) The fund shall receive all moneys transferred to the fund pursuant to §36‑8‑13(e) of this code, any income from the investment of moneys held in the fund, and all moneys reimbursed into the fund pursuant to subsection (e) of this section.

(d) The Adjutant General may authorize expenditures from the fund that qualify for cost reimbursement pursuant to a cooperative agreement, grant, or other legal agreement with the federal government, including but not limited to the following:

(1) Expenditures for operations and maintenance of all facilities;

(2) Expenditures for major and minor construction;

(3) Any other types of expenditures related to homeland and national security missions; and

(4) Any other types of expenditures to support missions of the West Virginia National Guard.

(e) Upon receiving moneys from the federal government to reimburse the Military Authority for expenditures authorized by this section, the Adjutant General shall reimburse the fund in an amount equal to the moneys received from the federal government.

(f) Any balance, including accrued interest and other returns, remaining in the fund at the end of each fiscal year shall be transferred to the Unclaimed Property Fund.

CHAPTER 36. uniform unclaimed property Act.

(a) The administrator shall record the name and last known address of each person appearing from the holders reports to be entitled to the property and the name and last known address of each insured person or annuitant and beneficiary and with respect to each policy or annuity listed in the report of an insurance company, its number, the name of the company and the amount due.

(b) The Unclaimed Property Fund is continued. The administrator shall deposit all funds received pursuant to this article in the Unclaimed Property Fund, including the proceeds from the sale of abandoned property under §36-8-12 of this code. The administrator may invest the Unclaimed Property Fund with the West Virginia Board of Treasury Investments or the Investment Management Board and all earnings shall accrue to the fund and are available for expenditure in accordance with the article. In addition to paying claims of unclaimed property duly allowed, the administrator may deduct the following expenses from the Unclaimed Property Fund:

(1) Expenses of the sale of abandoned property;

(2) Expenses incurred in returning the property to owners, including without limitation the costs of mailing and publication to locate owners;

(3) Reasonable service charge; and

(4) Expenses incurred in examining records of holders of property and in collecting the property from those holders.

(c) The Unclaimed Property Trust Fund is continued within the State Treasury. The administrator may invest the Unclaimed Property Trust Fund with the West Virginia Board of Treasury Investments and all earnings shall accrue to the fund and are available for expenditure in accordance with this article. After deducting the expenses specified in subsection (b) of this section and maintaining a sum of money from which to pay claims duly allowed, the administrator shall transfer the remaining moneys in the Unclaimed Property Fund to the Unclaimed Property Trust Fund.

~~(d) (1) On July 1, 2009, the unclaimed property administrator shall transfer the amount of $8 million from the Unclaimed Property Trust Fund to the Prepaid Tuition Trust Escrow Fund.~~

(2) On or before December 15 of each year, notwithstanding any provision of this code to the contrary, the administrator shall transfer the sum of $1 million from the Unclaimed Property Trust Fund to the Prepaid Tuition Trust Escrow Fund, until the actuary certifies there are sufficient funds to pay out all contracts.

(e) On or before June 1, 2007, the unclaimed property administrator shall transfer the amount of $2 million from the Unclaimed Property Trust Fund to the Deferred Compensation Matching Fund for operation of the deferred compensation matching program for state employees. On or before June 1, 2008, the unclaimed property administrator shall transfer the amount of $1 million from the Unclaimed Property Trust Fund to the Deferred Compensation Matching Fund for operation of the matching program.

(f) On or before June 1, 2013, the unclaimed property administrator shall transfer the amount of $3,631,846.55 from the Unclaimed Property Trust Fund to the Municipal Pensions and Protection Fund for the purpose of satisfying any amounts due as of April 27, 2012 to policemen's and firemen's pension and relief funds in accordance with section fourteen‑d, article three, chapter thirty‑three of this Code.

(d) Subject to a liquidity determination and cash availability, effective July 1, 2022, the unclaimed property administrator may transfer any amount not to exceed $10,000,000 in any fiscal year from the Unclaimed Property Trust Fund to the Military Authority Reimbursable Expenditure Fund.

~~(g)~~ (e) After transferring any money required by ~~subsections (d) through (f)~~ subsection (d) of this section, the administrator shall transfer moneys remaining in the Unclaimed Property Trust Fund to the General Revenue Fund.