2011 Code of Virginia
Title 58.1 TAXATION.
Chapter 17 Miscellaneous Taxes (58.1-1700 thru 58.1-1741)
58.1-1724 Disposition of tax revenues

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.)