58.1-1724 - Disposition of tax revenues. - Virginia Statutes

§ 58.1-1724. Disposition of tax revenues.

All taxes paid to the Commissioner pursuant to this article, aftersubtraction of the direct costs of administration by the Department, shall bedeposited in a special fund entitled the "Special Fund Account of theTransportation District of . . . . . . . " The amounts deposited in thespecial fund shall be distributed monthly to the applicable transportationdistrict commission of which the county or city is a member to be applied tothe operating deficit, capital and debt service of the mass transit system ofsuch district or, in the case of a transportation district subject to theprovisions of § 15.2-4515 C, to be applied to and expended for anytransportation purpose of such district. In the case of a jurisdictionwhich, after July 1, 1989, joins a transportation district which wasestablished on or before January 1, 1986, and is also subject to § 15.2-4515C, the funds collected from that jurisdiction shall be applied to andexpended for any transportation purpose of such jurisdiction. The directcosts of administration shall be credited to the funds appropriated to theDepartment.

(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.)