FIRST REGULAR SESSION
[TRULY AGREED TO AND FINALLY PASSED]
CONFERENCE COMMITTEE SUBSTITUTE FOR
HOUSE SUBSTITUTE FOR
SENATE BILL NO. 310
90TH GENERAL ASSEMBLY
1999
S1213.05T
AN ACT
To repeal sections 142.029 and 267.610, RSMo 1994, and sections 261.105 and 276.401, RSMo Supp. 1998, and section 267.610, as it appeared in RSMo 1986, relating to the department of agriculture, and to enact in lieu thereof eighteen new sections relating to the same subject, with penalty provisions and an expiration date for certain sections.
Section A. Sections 142.029 and 267.610, RSMo 1994, and sections 261.105 and 276.401, RSMo Supp. 1998, and section 267.610, as it appeared in RSMo 1986, are repealed and eighteen new sections enacted in lieu thereof, to be known as sections 142.029, 261.105, 267.611, 276.401, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13 and 14, to read as follows:
142.029. 1. Section 142.027 shall become effective only if the normal federal-aid funds apportioned to Missouri under the Federal-Aid Highway Act of 1987 exceeds the eighty-five percent minimum guarantee as defined in section 124 of that act. Section 142.027 shall become effective on July first of the year following the federal fiscal year for which the funds were apportioned.
2. Section 142.028 shall become effective July 1, 1989.
3. Section 142.027 shall expire on June 30, 1996. Section 142.028 shall expire on December 31, [2000] 2007.
261.105. 1. The department of agriculture shall make demonstration awards, out of appropriations made for that purpose, to the center for sustainable agricultural systems of the University of Missouri college of agriculture for the development and coordination of demonstration projects on the lands of individual farmers in this state which identify, develop and demonstrate agricultural technologies and farm management strategies in food and fiber production carried out under actual farming conditions that will reduce the dependency of food and fiber production on nonrenewable inputs. In any one fiscal year, no more [than twenty-three] thirty such demonstration project awards shall be made and no award shall exceed [three] four thousand five hundred dollars for any one demonstration project. The department of agriculture, in cooperation with the University of Missouri college of agriculture and the University of Missouri extension service, shall promulgate rules and regulations necessary to carry out the provisions of this section and for the identification of demonstration projects and award areas. The demonstration projects shall be selected on a broad geographical basis so that each agricultural area of the state is represented as nearly as practicable. The [twenty-three] demonstration projects shall be selected on the basis of innovative practices based on competitive applications received. Each demonstration project shall be monitored by the University of Missouri extension service and a report of the project shall be made to the department of agriculture.
2. No rule or portion of a rule promulgated [under] pursuant to the authority of this section shall become effective unless it has been promulgated pursuant to the provisions of [section 536.024] chapter 536, RSMo.
[2. This section shall expire December 31, 2001.]
[267.610. 1. When in the judgment of the state veterinarian, the slaughter method is the only means of controlling and eradicating a highly contagious or communicable or infectious disease of livestock, animals or birds, or when under cooperative agreements with the United States Department of Agriculture the slaughter method is required, notice shall be given to the owner or owners of the livestock exposed to or infected with the disease. Such livestock or birds or animals shall then be appraised and shall be destroyed by the sheriff of the county in which they are located or by a representative of the department or by the United States Department of Agriculture as the state veterinarian may elect, except that when exposed or infected or recovered livestock, animals and birds in such herds or flocks can be utilized for food purposes, the state veterinarian in his discretion may permit such animals, livestock or birds to be transported on permit and under supervision of a representative of the department to a slaughter establishment operating under the federal meat inspection service or under an approved municipal meat inspection service.
2. The appraisal of such livestock, animals or birds shall be made jointly by the owner and a representative of the director of agriculture or by the owner and a representative of the United States Department of Agriculture when the federal government shall elect to participate. In the case of any disagreement a disinterested third party shall be called in and a majority decision as to the appraisal of such livestock shall be fixed. The representative of the director of agriculture or a representative of the United States Department of Agriculture shall prepare an itemized statement of the appraisement in triplicate, one copy of which shall be presented to the director of agriculture. The director shall certify a claim for the appraisement to the commissioner of administration which shall constitute a legal claim against the state of Missouri and a warrant shall be issued therefor by the commissioner of administration, provided that the indemnity paid by the state under a federal cooperative program shall not exceed one-half of the appraised value.
3. A careful account of the cost of the killing, burying and also the cleaning and disinfection of premises shall be kept by the representative of the department or a representative of the United States Department of Agriculture and the cost thereof shall be paid by the state when such cost is approved by the director and certified to the commissioner of administration, in which case, a state warrant shall be issued to the owner as payment, provided, however, that such costs paid by the state under a federal cooperative program shall not exceed one-half the total cost.
4. Any livestock, animals or flock of birds appraised under the provisions of sections 267.560 to 267.660 shall be appraised at their actual value giving due consideration to breeding value as well as to dairy or meat value. A carefully itemized account of the appraisement of each individual head of such livestock, animals or flocks of birds shall be made and signed by the owner, representative of the department or of the United States Department of Agriculture and by the third party when such third party is called upon to act as a joint appraiser. Said account shall be made out in triplicate and one copy shall be sent to the director of agriculture and one copy shall be sent to the county commission, when the county is paying a portion of the indemnity.][267.610. 1. When in the judgment of the state veterinarian, the slaughter method is the only means of controlling and eradicating a highly contagious or communicable or infectious disease of livestock, animals or birds, or when under cooperative agreements with the United States Department of Agriculture the slaughter method is required, notice shall be given to the owner or owners of the livestock exposed to or infected with the disease. Such livestock or birds or animals shall then be indemnified within the limits of appropriation, at a rate fixed by rule or regulation promulgated by the director of the department of agriculture, except that such rate for ostriches and emu shall not exceed eight hundred dollars, and then destroyed under the supervision of a representative of the department or by the United States Department of Agriculture as the state veterinarian may elect, except that when exposed or infected or recovered livestock, animals and birds in such herds or flocks can be utilized for food purposes, the state veterinarian in his discretion may permit such animals, livestock or birds to be transported on permit and under supervision of a representative of the department to a slaughter establishment operating under the federal meat inspection service or under an approved municipal meat inspection service.
2. The provisions of this section shall apply to all cases to which the provisions of this section would otherwise apply which are settled after January 1, 1993.
3. A careful account of the cost of the killing, burying and also the cleaning and disinfection of premises shall be kept by the representative of the department or a representative of the United States Department of Agriculture and the cost thereof shall be paid by the state when such cost is approved by the director.]267.611. 1. When in the judgment of the state veterinarian, the slaughter method is the only means of controlling and eradicating a highly contagious or communicable or infectious disease of livestock, animals or birds, or when under cooperative agreements with the United States Department of Agriculture the slaughter method is required, notice shall be given to the owner or owners of the livestock exposed to or infected with the disease. Such livestock or birds or animals shall then be indemnified within the limits of appropriation, at a rate fixed by the director of the department of agriculture, except that such rate for ostriches and emu shall not exceed eight hundred dollars, and then destroyed under the supervision of a representative of the department or by the United States Department of Agriculture as the state veterinarian may elect, except that when exposed or infected or recovered livestock, animals and birds in such herds or flocks can be utilized for food purposes, the state veterinarian in his discretion may permit such animals, livestock or birds to be transported on permit and under supervision of a representative of the department to a slaughter establishment operating under the federal meat inspection service or under an approved municipal meat inspection service.
2. A careful account of the cost of the killing, burying and also the cleaning and disinfection of premises shall be kept by the representative of the department or a representative of the United States Department of Agriculture and the cost thereof shall be paid by the state when such cost is approved by the director.
276.401. 1. Sections 276.401 to 276.582 shall be known as the "Missouri Grain Dealer Law".
2. The provisions of the Missouri grain dealer law shall apply to grain purchases where title to the grain transfers from the seller to the buyer within the state of Missouri.
3. Unless otherwise specified by contractual agreement, title shall be deemed to pass to the buyer as follows:
(1) On freight on board (FOB) origin or freight on board (FOB) basing point contracts, title transfers at time and place of shipment;
(2) On delivered contracts, when and where constructively placed, or otherwise made available at buyer's original destination;
(3) On contracts involving in-store commodities, at the storing warehouse and at the time of contracting or transfer, and/or mailing of documents, if required, by certified mail, unless and to the extent warehouse tariff, warehouse receipt and/or storage contract assumes the risk of loss and/or damage.
4. As used in sections 276.401 to 276.582, unless the context otherwise requires, the following terms mean:
(1) "Auditor", a person appointed under sections 276.401 to 276.582 by the director to assist in the administration of sections 276.401 to 276.582, and whose duties include making inspections, audits and investigations authorized under sections 276.401 to 276.582;
(2) "Authorized agent", any person who has the legal authority to act on behalf of, or for the benefit of, another person;
(3) "Buyer", any person who buys or contracts to buy grain;
(4) "Certified public accountant", any person licensed as such under chapter 326, RSMo;
(5) "Claimant", any person who requests payment for grain sold by him to a dealer, but who does not receive payment because the purchasing dealer fails or refuses to make payment;
(6) "Credit sales contracts", a conditional grain sales contract wherein payment and/or pricing of the grain is deferred to a later date. Credit sales contracts include, but are not limited to, all contracts meeting the definition of deferred payment contracts, and/or delayed price contracts;
(7) "Current assets", resources that are reasonably expected to be realized in cash, sold, or consumed (prepaid items) within one year of the balance sheet date;
(8) "Current liabilities", obligations reasonably expected to be liquidated within one year and the liquidation of which is expected to require the use of existing resources, properly classified as current assets, or the creation of additional liabilities. Current liabilities include obligations that, by their terms, are payable on demand unless the creditor has waived, in writing, the right to demand payment within one year of the balance sheet date;
(9) "Deferred payment agreement", a conditional grain sales transaction establishing an agreed upon price for the grain and delaying payment to an agreed upon later date or time period. Ownership of the grain, and the right to sell it, transfers from seller to buyer so long as the conditions specified in section 276.461 and section 411.325, RSMo, are met;
(10) "Deferred pricing agreement", a conditional grain sales transaction wherein no price has been established on the grain, the seller retains the right to price the grain later at a mutually agreed upon method of price determination. Deferred pricing agreements include, but are not limited to, contracts commonly known as no price established contracts, price later contracts, and basis contracts on which the purchase price is not established at or before delivery of the grain. Ownership of the grain, and the right to sell it, transfers from seller to buyer so long as the conditions specified in section 276.461 and section 411.325, RSMo, are met;
(11) "Delivery date" shall mean the date upon which the seller transfers physical possession, or the right of physical possession, of the last unit of grain in any given transaction;
(12) "Department", the Missouri department of agriculture;
(13) "Designated representative", an employee or official of the department designated by the director to assist in the administration of sections 276.401 to 276.582;
(14) "Director", the director of the Missouri department of agriculture or his designated representative;
(15) "Generally accepted accounting principles", the conventions, rules and procedures necessary to define accepted accounting practice, which include broad guidelines of general application as well as detailed practices and procedures generally accepted by the accounting profession, and which have substantial authoritative support from the American Institute of Certified Public Accountants;
(16) "Grain", all grains for which the United States Department of Agriculture has established standards under the United States Grain Standards Act, Sections 71 to 87, Title 7, United States Code, and any other agricultural commodity or seed prescribed by the director by regulation;
(17) "Grain dealer" or "dealer", any person engaged in the business of, or as a part of his business participates in, buying grain where title to the grain transfers from the seller to the buyer within the state of Missouri. "Grain dealer" or "dealer" shall not be construed to mean or include:
(a) Any person or entity who is a member of a recognized board of trade or futures exchange and whose trading in grain is limited solely to trading with other members of a recognized board of trade or futures exchange; provided, that grain purchases from a licensed warehouseman, farmer/producer or any other individual or entity in a manner other than through the purchase of a grain futures contract on a recognized board of trade or futures exchange shall be subject to sections 276.401 to 276.582. Exempted herein are all futures transactions;
(b) A producer or feeder of grain for livestock or poultry buying grain for his own farming or feeding purposes who purchases grain exclusively from licensed grain dealers or whose total grain purchases from [other] producers during [his/her] his or her fiscal year do not exceed one hundred thousand dollars;
(c) Any person or entity whose grain purchases in the state of Missouri are made exclusively from licensed grain dealers;
(d) A manufacturer or processor of registered or unregistered feed whose total grain purchases from producers during his or her fiscal year does not exceed one hundred thousand dollars and who pays for all grain purchases from producers at the time of physical transfer of the grain from the seller or his or her agent to the buyer or his or her agent and whose resale of such grain is solely in the form of manufactured or processed feed or feed by-products or whole feed grains to be used by the purchaser thereof as feed;
(18) "Grain transport vehicle", a truck, tractor-trailer unit, wagon, pup, or any other vehicle or trailer used by a dealer, whether owned or leased by him, to transport grain which he has purchased; except that, bulk or bagged feed delivery trucks which are used principally for the purpose of hauling feed and any trucks for which the licensed gross weight does not exceed twenty-four thousand pounds shall not be construed to be a grain transport vehicle;
(19) "Insolvent" or "insolvency", (a) an excess of liabilities over assets or (b) the inability of a person to meet his financial obligations as they come due, or both (a) and (b);
(20) "Interested person", any person having a contractual or other financial interest in grain sold to a dealer, licensed, or required to be licensed;
(21) "Location", any site other than the principal office where the grain dealer engages in the business of purchasing grain;
(22) "Minimum price contract", a conditional grain sales transaction establishing an agreed upon minimum price where the seller may participate in subsequent price gain, if any. Ownership of the grain, and the right to sell it, transfers from the seller to the buyer so long as the conditions specified in section 276.461 and section 411.325, RSMo, are met;
(23) "Person", any individual, partnership, corporation, cooperative, society, association, trustee, receiver, public body, political subdivision or any other legal or commercial entity of any kind whatsoever, and any member, officer or employee thereof;
(24) "Producer", any owner, tenant or operator of land who has an interest in and receives all or any part of the proceeds from the sale of grain or livestock produced thereon;
(25) "Purchase", to buy or contract to buy grain;
(26) "Sale", the passing of title from the seller to the buyer in consideration of the payment or promise of payment of a certain price in money, or its equivalent;
(27) "Value", any consideration sufficient to support a simple contract.
Section 1. As used in sections 1 to 6 of this act, the following terms mean:
(1) "Department", the department of agriculture;
(2) "Livestock", live cattle, swine or sheep;
(3) "Packer", a person who is engaged in the business of slaughtering livestock or receiving, purchasing or soliciting livestock for slaughtering, the meat products of which are directly or indirectly to be offered for resale or for public consumption. Packer includes an agent of the packer engaged in buying or soliciting livestock for slaughter on behalf of a packer. Packer does not include a cold storage plant, a frozen food locker plant exempt from federal inspection requirements, a livestock market or livestock auction agency, any cattle buyer who purchases twenty or fewer cattle per day or one hundred or fewer cattle per week, any hog buyer who purchases fifty or fewer hogs per day or two hundred fifty or fewer hogs per week, or any sheep buyer who purchases fifty or fewer sheep per day or two hundred fifty or fewer sheep per week.
Section 2. A packer purchasing or soliciting livestock in this state for slaughter shall not discriminate in prices paid or offered to be paid to sellers of that livestock. The provisions of this section shall not be construed to mean that a price or payment method must remain fixed throughout any marketing period. The provisions of this section shall not apply to the sale and purchase of livestock if the following requirements are met:
(1) The price differential is based on the quality of the livestock, if the packer purchases or solicits the livestock based upon a payment method specifying prices paid for criteria relating to carcass merit; actual and quantifiable costs related to transporting and acquiring the livestock by the packer; or an agreement for the delivery of livestock at a specified date or time; and
(2) After making a differential payment to a seller, the packer publishes information relating to the differential pricing, including the payment method for carcass merit, transportation and acquisition pricing, and an offer to enter into an agreement for the delivery of livestock at a specified date or time according to the same terms and conditions offered to other sellers.
Section 3. A packer shall provide to the agricultural market service livestock market news branch of the United States Department of Agriculture and to the Missouri department of agriculture all prices paid for livestock, both contract and direct purchase, by 9:00 a.m. the following business day.
Section 4. 1. Any agreement made by a packer in violation of sections 1 to 6 of this act is voidable.
2. Any packer acting in violation of sections 1 to 6 of this act is guilty of a class A misdemeanor.
Section 5. 1. The attorney general shall enforce the provisions of sections 1 to 6 of this act. The department of agriculture shall refer violations of the provisions of sections 1 to 6 of this act to the attorney general. The attorney general or any person injured by a violation of the provisions of sections 1 to 6 of this act may bring an action pursuant to the provisions of chapter 407, RSMo, for any remedy allowed for unlawful merchandising practices.
2. A seller who receives a discriminatory price or who is offered only a discriminatory price in violation of the provisions of sections 1 to 6 of this act may receive treble damages, costs and a reasonable attorney's fee.
Section 6. 1. Each packer shall make available for publication and to the department of agriculture a daily report setting forth information regarding prices paid for livestock under each contract in force in Missouri in which the packer and a Missouri resident are parties for the purchase of livestock by the packer and which sets a date for delivery more than fourteen days after the making of the contract.
2. The report shall be completed on forms prepared by the department for comparison with cash market prices for livestock and livestock carcasses according to procedures required by the department. The report shall not include information regarding the identity of a seller.
3. Any packer who fails to report as required by this section is guilty of a class A misdemeanor.
4. The department shall adopt rules to implement the provisions of sections 1 to 6 of this act.
5. No rule or portion of a rule promulgated pursuant to the authority of this section shall become effective unless it has been promulgated pursuant to the provisions of chapter 536, RSMo.
6. In the event a federal law regarding livestock price reporting becomes effective, the department of agriculture shall immediately adopt such rules as are necessary to permit Missouri producers and packers to remain economically competitive with producers and packers in other states.
7. Sections 1 to 7 of this act shall expire December 31, 2002.
Section 7. As used in sections 7 to 10 of this act, the following terms mean:
(1) "Fresh meat", any quarter, half or whole carcass of beef, pork or mutton, or any cut or portion thereof which has not been canned or cooked;
(2) "Ground meat" includes any meat subsequently ground or commingled and any portion of which is imported from a foreign nation;
(3) "Person", any individual, firm, partnership, association or corporation;
(4) "Sales at retail", sales at any retail grocery store, butcher shop, delicatessen, or other place where fresh meat is sold at retail for consumption off-premises.
Section 8. No person shall knowingly sell at wholesale or retail any fresh meat imported from any foreign nation without complying with all of the provisions of sections 7 to 10 of this act.
Section 9. On each quarter, half or whole carcass of imported fresh meat offered for sale at wholesale or retail, and also on any individually wrapped or packaged cut or portion thereof, there shall either be placed a label or brand clearly indicating the country of origin of the meat or a conspicuous, legible and clearly visible sign indicating the country of origin of the meat. Where unwrapped or unpackaged cuts or slices are displayed in a tray or case for selection by the patron, each tray or case shall have a conspicuous, legible and clearly visible sign or label indicating the country of origin. Every tray or other container of hamburger, ground meat, sausage, or other fresh meat displayed in the bulk shall have a sign or label conforming to the same requirements. All signs required by this subsection shall be placed to clearly indicate for which cuts of meat or trays of meat such sign is intended.
Section 10. 1. The department of agriculture shall enforce the provisions of sections 7 to 10 of this act.
2. Any person found to be in violation of any provision of sections 7 to 10 of this act shall be issued a notice of violation. The notice shall state the date issued, the name and address of the person to whom issued, the nature of the violation, the statute or regulation violated, and the name and position of the person issuing the notice. The notice shall also contain a warning that the violation may result in an informal or formal administrative hearing or both.
3. Any person issued a notice of violation may be afforded an opportunity by the director of the department of agriculture to explain such facts at an informal hearing to be conducted within fourteen days of such notification. In the event that such person fails to timely respond to such notification or upon unsuccessful resolution of any issues relating to an alleged violation, such person may be summoned to a formal administrative hearing before the director or a designated hearing officer conducted in conformance with chapter 536, RSMo, and if found to have committed two or more violations within twelve months, may be ordered to cease and desist from such violations, such order may be enforced in the circuit court, and, in addition, may be required to pay a penalty of not more than five hundred dollars per violation. Any party to such hearing aggrieved by a determination of a hearing officer may appeal to the circuit court of the county in which the party resides, or if the party is the state, in Cole County, in accordance with chapter 536, RSMo.
4. Any penalty assessed and collected by the director shall be deposited with the state treasurer to the credit of the general revenue fund of the state.
Section 11. As used in sections 11 to 14 of this act, the following terms mean:
(1) "Alternative fuel", the same meaning as in section 414.400, RSMo;
(2) "Division", the division of energy of the department of natural resources;
(3) "Fueling station", the equipment and property directly related to dispensing of an alternative fuel into the fuel tank of a vehicle propelled by such fuel, including the compression equipment and storage vessels for such fuel at the location where such fuel is dispensed;
(4) "Fund", the Missouri alternative fuel vehicle loan fund;
(5) "Incremental cost", the difference in cost between a vehicle that operates on conventional fuel and the cost of the same model vehicle equipped to operate on an alternative fuel;
(6) "Political subdivision", any county, township, municipal corporation, school district or other governmental unit in this state, but not including any state agency as such term is defined in section 536.010, RSMo; and
(7) "Vehicle fleet", any fleet owned and operated by a political subdivision and comprised of ten or more motor vehicles with a manufacturer's gross vehicle weight rating of not more than eight thousand five hundred pounds registered for operation on the highways of this state pursuant to chapter 301, RSMo.
Section 12. 1. On or before July 1, 2000, the division shall have developed an administrative plan for implementing a program that provides financial assistance to political subdivisions for establishing the capability of using alternative fuels in their vehicle fleets.
2. The program shall accept applications for loans from political subdivisions with vehicle fleets for the:
(1) Purchase of new motor vehicles capable of using alternative fuels;
(2) Conversion of motor vehicles which operate on gasoline to enable such vehicles to operate on an alternative fuel; and
(3) Construction of fueling stations capable of dispensing alternative fuels.
3. The division shall evaluate plans developed by applicants for converting their vehicle fleets to operate on alternative fuels, and shall give preference in making loans to those applicants who are prepared to make substantial investments of their own funds in converting their vehicle fleets and who will work cooperatively with the state, other political subdivisions, and private entities in developing a fueling infrastructure capable of dispensing alternative fuels in this state.
4. The division may promulgate any rules necessary to carry out the provisions of sections 11 to 14 of this act. No rule or portion of a rule promulgated pursuant to sections 11 to 14 of this act shall take effect unless it has been promulgated pursuant to chapter 536, RSMo.
Section 13. 1. Using the fund created in section 14 of this act, the division shall provide loans of:
(1) A maximum of two thousand dollars for the incremental cost of purchasing a new vehicle capable of operating on an alternative fuel;
(2) A maximum of two thousand dollars for the conversion of a new or existing vehicle designed to operate on gasoline to enable such vehicle to operate on an alternative fuel; and
(3) A maximum of one hundred thousand dollars for the construction of a fueling station capable of dispensing an alternative fuel.
2. No political subdivision shall receive in aggregate more than one hundred thousand dollars in loans for the purchase or conversion of alternative fuel vehicles in any one year.
3. No political subdivision shall receive in aggregate more than one hundred thousand dollars in loans for the construction of fueling stations in any one year.
4. The division shall establish the interest rate and terms of repayment for each loan agreement established pursuant to sections 11 to 14 of this act. In establishing the repayment schedule, the division shall consider the projected savings to the political subdivision resulting from use of an alternative fuel, but such repayment schedule shall be for a maximum repayment period of four years and shall include provisions for payments to be made on a monthly basis.
5. Any political subdivision that receives a loan pursuant to sections 11 to 14 of this act shall:
(1) Remit payments on the repayment schedule established by the division;
(2) Agree to use the alternative fuel for which vehicles purchased with the aid of such loans were designed;
(3) Provide reasonable data requested by the division on the use and performance of vehicles purchased with the aid of such loans;
(4) Allow for reasonable inspections by the division of vehicles purchased and fueling stations constructed with the aid of such loans; and
(5) Make fueling stations constructed with the aid of such loans available for use at reasonable cost by the vehicle fleets of other political subdivisions and, with consideration of the capacity of such fueling stations, by the general public.
Section 14. 1. There is hereby created in the state treasury the "Missouri Alternative Fuel Vehicle Loan Fund". The fund may receive moneys from appropriations by the general assembly, repayments by political subdivisions of loans made pursuant to sections 11 to 14 of this act including interest on such loans, and gifts, bequests, donations or any other payments made by any public or private entity for use in carrying out the provisions of sections 11 to 14 of this act.
2. The state treasurer shall deposit all of the moneys in the fund into any of the qualified depositories of this state. All such deposits shall be secured in such a manner and shall be made upon such terms and conditions as are now or may hereafter be provided by law relative to state deposits. Interest accrued by the fund shall be credited to the fund. Notwithstanding the provisions of section 33.080, RSMo, to the contrary, moneys in the fund shall not revert to the credit of the general revenue fund at the end of the biennium.
3. The fund shall be used solely for the purposes of sections 11 to 14 of this act and for no other purpose.