§ 58.1-2531. Distribution of certain revenue.
A. Beginning with the Commonwealth's fiscal year beginning on July 1, 2008 and for each fiscal year thereafter, an amount equal to one-third of all revenues collected by the Commission in the most recently ended fiscal year from the tax imposed under this chapter, less one-third of the total amount of such tax refunded in the most recently ended fiscal year, shall be deposited by the Comptroller to the Priority Transportation Fund established under § 33.1-23.03:8.
B. For purposes of the Comptroller's deposits under this section, the Commissioner of the Bureau of Insurance shall, no later than July 15 of each year, provide a written certification to the Comptroller that reports the amount to be deposited pursuant to subsection A. After the required amount has been deposited as provided in subsection A, all remaining revenues from the tax imposed under this chapter shall be deposited into the general fund of the state treasury. The Comptroller shall make all deposits under this section as soon as practicable.
(2007, c. 896.)
Sections: Previous 58.1-2509 58.1-2510 58.1-2511 58.1-2520 58.1-2521 58.1-2522 58.1-2523 58.1-2524 58.1-2525 58.1-2526 58.1-2527 58.1-2528 58.1-2529 58.1-2530 58.1-2531Last modified: April 16, 2009