Commercial vehicle excise tax reserve fund; establishment
Sec. 14. (a) The commercial vehicle excise tax reserve fund is
established for the purpose of receiving commercial vehicle excise
taxes first due and payable in calendar year 2000. The fund shall be
administered by the department.
(b) The expenses of administering the fund shall be paid from
money in the fund.
(c) The treasurer of state shall invest the money in the fund not
currently needed to meet the obligations of the fund in the same
manner as other public money may be invested. Interest that accrues
from these investments shall be deposited in the fund.
(d) Money in the fund at the end of a state fiscal year does not
revert to the state general fund.
(e) Any money remaining in the fund on March 1, 2006, shall
revert to the motor carrier regulation fund established under
IC 8-2.1-23-1.
As added by P.L.181-1999, SEC.2.
Last modified: May 28, 2006