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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>55135</law_id><section_number>15.2-5947</section_number><catch_line>Sharing of revenue among participating localities</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="15.2">Counties, Cities and Towns</unit><unit label="subtitle" level="2" order_by="1" identifier="IV">Other Governmental Entities</unit><unit label="chapter" level="3" order_by="1" identifier="59.3">Hampton Roads Regional Arena Authority</unit></structure><text>
						<section><p><span class="dictionary">The Authority</span> shall develop and administer a plan to distribute <span class="dictionary">sales and use tax revenues</span> from the Facility to each <span class="dictionary">participating locality</span>. <span class="dictionary">The Authority</span> shall not distribute such revenues to any <span class="dictionary">participating locality</span> until it has paid off any debt incurred pursuant to the provisions of this chapter. The plan to distribute <span class="dictionary">sales and use tax revenues</span> shall reasonably account for each <span class="dictionary">participating locality</span>&#x2019;s contributions to the costs of financing, constructing, maintaining, and operating the Facility and <span class="dictionary">Facility Site</span>.</p></section></text><history>2020, cc. 538, 539.</history><metadata></metadata></law>
