CODE OF VIRGINIA

SPECIAL FUND ACCUMULATED FROM TAXES, FEES, ETC (§ 5.1-51)

All funds accumulated from any special sales tax, excise tax or use tax, now or
which may hereafter be imposed under the laws of this Commonwealth on aviation
motor fuel purchased or used in this Commonwealth in the propulsion of aircraft,
and all funds heretofore or hereafter accumulated from any fees for licensing or
registering of airmen, aircraft and airports, now or hereafter imposed under the
laws of this Commonwealth, and all funds heretofore, and which may hereafter be,
appropriated to the Department for the purpose of the promotion and development
of aviation and airports, including the expense of the administration by the
Department of the laws pertaining to aviation, as now or as may be hereafter
enacted, and the jurisdiction for the administration thereof conferred on the
Department, are hereby constituted a special fund within the Commonwealth
Transportation Fund for the administration of the aviation laws, heretofore or
hereafter enacted, insofar as the administration has been, or shall be, imposed
upon the Department, for the construction, maintenance and improvement of
airports and landing fields and for the promotion of aviation in the interest of
operators and in the interest of the public. However, of the moneys expended for
the construction, maintenance and improvement of airports at least thirty-five
percent thereof computed over a period of three years shall be expended on
carrier and reliever airports. Beginning July 1, 1998, any balances remaining in
this fund at the end of the year shall be available for use in subsequent years
for the purposes set forth in this chapter, and any interest income on such fund
shall accrue to the fund.In considering or evaluating the application for or
award of any grant of moneys under this section, the Board shall take into
account the capacities of all airports within the affected geographic region.

HISTORY: Code 1950, § 5-42; 1966, c. 576; 1970, c. 717; 1974, c. 388; 1979, c.
272; 1997, c. 423; 1998, c. 480.