42-1116

42-1116. Disposition of tax revenues

A. The department shall promptly deposit, pursuant to sections 35-146 and 35-147,
all monies it collects from the taxes administered pursuant to this article except the
telecommunication services excise tax, separately accounting for each type of tax and
each tax classification within each type of tax. At the same time the department of
revenue shall also furnish copies of the transmittal schedules to the director of the
department of administration.

B. Except as provided by subsection C of this section, the department shall deposit
all monies and remittances received under this section to the credit of the following
specific funds and accounts:

1. Amounts sufficient to meet the requirements for tax refunds to the tax refund
account established in section 42-1117.

2. Amounts sufficient to meet the requirements of urban revenue sharing to the
urban revenue sharing fund established in section 43-206.

3. Amounts collected pursuant to chapter 5, articles 1 and 5 of this title and
section 42-5352, subsection A to the transaction privilege and severance tax clearing
account established by section 42-5029.

4. Through June 30, 2015 amounts sufficient to meet the requirements of section
42-3104 to the corrections fund.

5. Amounts sufficient to meet the requirements of section 49-282, subsection B
relating to the water quality assurance revolving fund.

6. All remaining monies to the state general fund.

C. From the monies and remittances received under this section, each month
beginning July, 2001 the state treasurer shall transmit to the tourism and sports
authority, established by title 5, chapter 8, for deposit in its facility revenue
clearing account established by section 5-834 one-twelfth of the amount reported by the
department pursuant to section 43-209.