                                 CODE OF VIRGINIA

SHARING OF REVENUE AMONG PARTICIPATING LOCALITIES (§ 15.2-5947)

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&#8217;s contributions to the costs of financing,
constructing, maintaining, and operating the Facility and Facility Site.

HISTORY: 2020, cc. 538, 539.