Tree Fund.

There shall be established a fund designated as the Tree Fund, which shall be a sub-fund of the Local Road Construction and Maintenance Fund and separate from the General Fund of the District of Columbia. Monies deposited into the Tree Fund shall not revert to the General Fund of the District of Columbia at the end of any fiscal year or at any other time, but shall be continually available for the uses and purposes set forth in subsection (b) of this section pursuant to an act of Congress. Donations, fees and penalties collected pursuant to this chapter or any rules established to implement this chapter shall be deposited into the Tree Fund. All receipts shall be deposited as soon as practicable. The Director shall maintain the fund in coordination with the Chief Financial Officer of the District of Columbia. The Fund shall be used to plant trees and for any associated costs incurred by the District in administering this chapter, and shall include providing income-contingent subsidies to assist District residents with the removal costs of hazardous trees in accordance with regulations submitted for Council approval within 60 days of September 18, 2007. The Fund may include income-contingent subsidies for the replacement of trees when owners are required to remove hazardous trees. The Chief Financial Officer shall submit to the Mayor and to the Council an annual statement of all receipts and disbursements for the Fund. Private voluntary donations to the Fund shall be tax deductible for purposes of District income and franchise taxes.