The Secretary shall allocate the amount of revenue collected under this Article from an excise tax of one-half cent (1/2) a gallon to the following funds and accounts in the fraction indicated:
Fund or Account Amount
Commercial Leaking Petroleum
Underground Storage Tank Cleanup Fund Nineteen thirty-seconds
Noncommercial Leaking Petroleum
Underground Storage Tank Cleanup Fund Three thirty-seconds
Water and Air Quality Account Five-sixteenths.
The Secretary shall allocate seventy-five percent (75%) of the remaining excise tax revenue collected under this Article to the Highway Fund and shall allocate twenty-five percent (25%) to the Highway Trust Fund.
The Secretary shall charge a proportionate share of a refund allowed under this Article to each fund or account to which revenue collected under this Article is credited. The Secretary shall credit revenue or charge refunds to the appropriate funds or accounts on a monthly basis. (1995, c. 390, s. 3.)
Sections: Previous 105-449.118 105-449.118A 105-449.119 105-449.120 105-449.121 105-449.122 105-449.123 105-449.125 105-449.126 105-449.130 105-449.131 105-449.132 105-449.133 105-449.134 105-449.135 Next
Last modified: March 23, 2014