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§ 15.2-5947 Sharing of revenue among participating localities

The Authority shall develop and administer a plan to distribute sales and use tax revenues from the Facility to each participating locality. The Authority shall not distribute such revenues to any participating locality until it has paid off any debt incurred pursuant to the provisions of this chapter. The plan to distribute sales and use tax revenues shall reasonably account for each participating locality’s contributions to the costs of financing, constructing, maintaining, and operating the Facility and Facility Site.

History

This law was first created in 2020. The record of its establishment is cataloged in chapters 538 and 539 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year.

2020, cc. 538, 539.

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