12-16,100.   Same; transient guest tax refund fund.There is hereby established in the state treasury the "transient guest taxrefund fund" which shall be used for the payment of refunds ofthe transient guest tax which is levied and collected pursuant to this act. The transient guest tax refund fund shall be held by the state treasurerfor prompt refunding of all transient guest tax overpayments. Said fundshall be maintained by the secretary of revenue from the transient guesttax collections in an amount determined by the secretary of revenue as necessaryto meet the current refunding requirements for the transient guest tax underthis act but such amount shall not exceed five thousand dollars ($5,000).

      History:   L. 1977, ch. 93, § 5; April 2.