§ 3-5.09 SALES TAX COMMITMENT TO HIGHWAY MAINTENANCE AND OPERATING FUND

A. Beginning July 1, 2013, of the sales and use tax revenue remaining after the distributions required by § 58.1-638, Code of Virginia, the sales and use tax revenue generated by a 0.05 percent sales and use tax rate shall be paid, in the manner provided in this item, to the Highway Maintenance and Operating Fund.

B. In computing the amount of sales and use tax revenue paid under subsection A, the amount of such revenue attributable to sales and use tax on food for human consumption, as defined in § 58.1-611.1, Code of Virginia, shall be excluded.

C. The Highway Maintenance and Operating Fund's share of the net revenue distributable under this section shall be computed as an estimate of the net revenue to be received into the state treasury each month, and such estimated payment shall be adjusted for the actual net revenue received in the preceding month. All payments shall be made to the Fund on the last day of each month.