§ 58.1-662. Disposition of communications sales and use tax revenue;Communications Sales and Use Tax Trust Fund; localities' share.
A. There is hereby created in the Department of the Treasury a specialnonreverting fund which shall be known as the Communications Sales and UseTax Trust Fund (the Fund). The Fund shall be established on the books of theComptroller and any funds remaining in the Fund at the end of a bienniumshall not revert to the general fund but shall remain in the Fund. Interestearned on the funds shall be credited to the Fund. After transferring moneysfrom the Fund to the Department of Taxation to pay for the direct costs ofadministering this chapter, the moneys in the Fund shall be allocated to theCommonwealth's counties, cities, and towns, and distributed in accordancewith subsection C, after the payment (i) for the telephone relay servicecenter is made to the Department of Deaf and Hard-of-Hearing in accordancewith the provisions of § 51.5-115 and (ii) of any franchise fee amount due tolocalities in accordance with any cable franchise in effect as of January 1,2007.
B. The localities' share of the net revenue distributable under this sectionamong the counties, cities, and towns shall be apportioned by the TaxCommissioner and distributed as soon as practicable after the close of eachmonth during which the net revenue was received into the Fund. Thedistribution of the localities' share of such net revenue shall be computedwith respect to the net revenue received in the state treasury during eachmonth.
C. The net revenue distributable among the counties, cities, and towns shallbe apportioned and distributed monthly according to each county's, city's,and town's pro rata distribution from the Fund in fiscal year 2010.
An amount equal to the total franchise fee paid to each locality with a cablefranchise existing on the effective date of this section at the rate inexistence on January 1, 2007, shall be subtracted from the amount owed tosuch locality prior to the distribution of moneys from the Fund.
The Department of Taxation shall adjust the percentage share of distributionfrom the Fund due to each locality entitled to a distribution from the Fundupon a ruling by the Tax Commissioner in favor of a county, city, or town,provided that any such ruling in favor of a county, city, or town shall notresult in more than an aggregate of $100,000 being redistributed from allother counties, cities, and towns. Counties, cities, and towns are authorizedto request such ruling. The Tax Commissioner shall issue no such rulingchanging the current distribution in favor of a county, city, or town unlessthe county, city, or town provides evidence to the Tax Commissioner that ithad collected telecommunications and television cable funds (local consumerutility tax on landlines and wireless, E-911, business license tax in excessof 0.5%, cable franchise fee, video programming excise tax, local consumerutility tax on cable television) in fiscal year 2006 from local tax ratesadopted on or before January 1, 2006.
D. For the purposes of the Comptroller making the required transfers, the TaxCommissioner shall make a written certification to the Comptroller no laterthan the twenty-fifth of each month certifying the communications sales anduse tax revenues generated in the preceding month. Within three calendar daysof receiving such certification, the Comptroller shall make the requiredtransfers to the Communications Sales and Use Tax Trust Fund.
E. If errors are made in any distribution, or adjustments are otherwisenecessary, the errors shall be corrected and adjustments made in thedistribution for the next month or for subsequent months.
(2006, c. 780; 2008, cc. 25, 148; 2009, cc. 680, 683; 2010, cc. 285, 365,385.)
§ 58.1-662. Disposition of communications sales and use tax revenue;Communications Sales and Use Tax Trust Fund; localities' share.
A. There is hereby created in the Department of the Treasury a specialnonreverting fund which shall be known as the Communications Sales and UseTax Trust Fund (the Fund). The Fund shall be established on the books of theComptroller and any funds remaining in the Fund at the end of a bienniumshall not revert to the general fund but shall remain in the Fund. Interestearned on the funds shall be credited to the Fund. After transferring moneysfrom the Fund to the Department of Taxation to pay for the direct costs ofadministering this chapter, the moneys in the Fund shall be allocated to theCommonwealth's counties, cities, and towns, and distributed in accordancewith subsection C, after the payment (i) for the telephone relay servicecenter is made to the Department of Deaf and Hard-of-Hearing in accordancewith the provisions of § 51.5-115 and (ii) of any franchise fee amount due tolocalities in accordance with any cable franchise in effect as of January 1,2007.
B. The localities' share of the net revenue distributable under this sectionamong the counties, cities, and towns shall be apportioned by the TaxCommissioner and distributed as soon as practicable after the close of eachmonth during which the net revenue was received into the Fund. Thedistribution of the localities' share of such net revenue shall be computedwith respect to the net revenue received in the state treasury during eachmonth.
C. The net revenue distributable among the counties, cities, and towns shallbe apportioned and distributed monthly according to each county's, city's,and town's pro rata distribution from the Fund in fiscal year 2010.
An amount equal to the total franchise fee paid to each locality with a cablefranchise existing on the effective date of this section at the rate inexistence on January 1, 2007, shall be subtracted from the amount owed tosuch locality prior to the distribution of moneys from the Fund.
The Department of Taxation shall adjust the percentage share of distributionfrom the Fund due to each locality entitled to a distribution from the Fundupon a ruling by the Tax Commissioner in favor of a county, city, or town,provided that any such ruling in favor of a county, city, or town shall notresult in more than an aggregate of $100,000 being redistributed from allother counties, cities, and towns. Counties, cities, and towns are authorizedto request such ruling. The Tax Commissioner shall issue no such rulingchanging the current distribution in favor of a county, city, or town unlessthe county, city, or town provides evidence to the Tax Commissioner that ithad collected telecommunications and television cable funds (local consumerutility tax on landlines and wireless, E-911, business license tax in excessof 0.5%, cable franchise fee, video programming excise tax, local consumerutility tax on cable television) in fiscal year 2006 from local tax ratesadopted on or before January 1, 2006.
D. For the purposes of the Comptroller making the required transfers, the TaxCommissioner shall make a written certification to the Comptroller no laterthan the twenty-fifth of each month certifying the communications sales anduse tax revenues generated in the preceding month. Within three calendar daysof receiving such certification, the Comptroller shall make the requiredtransfers to the Communications Sales and Use Tax Trust Fund.
E. If errors are made in any distribution, or adjustments are otherwisenecessary, the errors shall be corrected and adjustments made in thedistribution for the next month or for subsequent months.
(2006, c. 780; 2008, cc. 25, 148; 2009, cc. 680, 683; 2010, cc. 285, 365,385.)
§ 58.1-662. Disposition of communications sales and use tax revenue;Communications Sales and Use Tax Trust Fund; localities' share.
A. There is hereby created in the Department of the Treasury a specialnonreverting fund which shall be known as the Communications Sales and UseTax Trust Fund (the Fund). The Fund shall be established on the books of theComptroller and any funds remaining in the Fund at the end of a bienniumshall not revert to the general fund but shall remain in the Fund. Interestearned on the funds shall be credited to the Fund. After transferring moneysfrom the Fund to the Department of Taxation to pay for the direct costs ofadministering this chapter, the moneys in the Fund shall be allocated to theCommonwealth's counties, cities, and towns, and distributed in accordancewith subsection C, after the payment (i) for the telephone relay servicecenter is made to the Department of Deaf and Hard-of-Hearing in accordancewith the provisions of § 51.5-115 and (ii) of any franchise fee amount due tolocalities in accordance with any cable franchise in effect as of January 1,2007.
B. The localities' share of the net revenue distributable under this sectionamong the counties, cities, and towns shall be apportioned by the TaxCommissioner and distributed as soon as practicable after the close of eachmonth during which the net revenue was received into the Fund. Thedistribution of the localities' share of such net revenue shall be computedwith respect to the net revenue received in the state treasury during eachmonth.
C. The net revenue distributable among the counties, cities, and towns shallbe apportioned and distributed monthly according to each county's, city's,and town's pro rata distribution from the Fund in fiscal year 2010.
An amount equal to the total franchise fee paid to each locality with a cablefranchise existing on the effective date of this section at the rate inexistence on January 1, 2007, shall be subtracted from the amount owed tosuch locality prior to the distribution of moneys from the Fund.
The Department of Taxation shall adjust the percentage share of distributionfrom the Fund due to each locality entitled to a distribution from the Fundupon a ruling by the Tax Commissioner in favor of a county, city, or town,provided that any such ruling in favor of a county, city, or town shall notresult in more than an aggregate of $100,000 being redistributed from allother counties, cities, and towns. Counties, cities, and towns are authorizedto request such ruling. The Tax Commissioner shall issue no such rulingchanging the current distribution in favor of a county, city, or town unlessthe county, city, or town provides evidence to the Tax Commissioner that ithad collected telecommunications and television cable funds (local consumerutility tax on landlines and wireless, E-911, business license tax in excessof 0.5%, cable franchise fee, video programming excise tax, local consumerutility tax on cable television) in fiscal year 2006 from local tax ratesadopted on or before January 1, 2006.
D. For the purposes of the Comptroller making the required transfers, the TaxCommissioner shall make a written certification to the Comptroller no laterthan the twenty-fifth of each month certifying the communications sales anduse tax revenues generated in the preceding month. Within three calendar daysof receiving such certification, the Comptroller shall make the requiredtransfers to the Communications Sales and Use Tax Trust Fund.
E. If errors are made in any distribution, or adjustments are otherwisenecessary, the errors shall be corrected and adjustments made in thedistribution for the next month or for subsequent months.
(2006, c. 780; 2008, cc. 25, 148; 2009, cc. 680, 683; 2010, cc. 285, 365,385.)
