CODE OF VIRGINIA

DISTRIBUTION OF CERTAIN REVENUE (§ 58.1-2531)

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 Department 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 § 33.2-1527.

B. For purposes of the Comptroller’s deposits under this section, the Tax
Commissioner 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.

HISTORY: 2007, c. 896; 2011, c. 850.