§ 58.1-1724. Disposition of tax revenues
All taxes paid to the Commissioner pursuant to this article, after subtraction of the direct costs of administration by the Department, shall be deposited in a special fund entitled the "Special Fund Account of the Transportation District of . . . . . . . " The amounts deposited in the special fund shall be distributed monthly to the applicable transportation district commission of which the county or city is a member to be applied to the operating deficit, capital and debt service of the mass transit system of such district or, in the case of a transportation district subject to the provisions of § 15.2-4515 C, to be applied to and expended for any transportation purpose of such district. In the case of a jurisdiction which, after July 1, 1989, joins a transportation district which was established on or before January 1, 1986, and is also subject to § 15.2-4515 C, the funds collected from that jurisdiction shall be applied to and expended for any transportation purpose of such jurisdiction. The direct costs of administration shall be credited to the funds appropriated to the Department.
(Code 1950, § 58-730.5; 1980, c. 225; 1982, c. 358; 1984, c. 675; 1986, c. 435; 1986, Sp. Sess., cc. 6, 15; 1989, c. 417; 1992, c. 579.)
Sections: Previous 58.1-1717 58.1-1718 58.1-1719 58.1-1720 58.1-1721 58.1-1722 58.1-1723 58.1-1724 58.1-1724.1 58.1-1724.2 58.1-1724.3 58.1-1724.4 58.1-1724.5 58.1-1724.6 58.1-1724.7 NextLast modified: April 16, 2009