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's contributions to the costs of financing, constructing, maintaining, and operating the Facility and Facility Site.
2020, cc. 538, 539.
Structure Code of Virginia
Title 15.2 - Counties, Cities and Towns
Chapter 59.3 - Hampton Roads Regional Arena Authority
§ 15.2-5936. Creation of Authority
§ 15.2-5937. Members of Authority; chairman; terms
§ 15.2-5938. Quorum; actions of Authority; meetings
§ 15.2-5939. Executive Director appointment; duties
§ 15.2-5940. Participation in the Authority by a Hampton Roads locality
§ 15.2-5942. Public hearings; notice; reports
§ 15.2-5944. Restrictions related to sports teams
§ 15.2-5945. Facility Financing Fund; use
§ 15.2-5946. Entitlement to tax revenues derived from the operation of a Facility
§ 15.2-5947. Sharing of revenue among participating localities
§ 15.2-5948. Tax revenues of the Commonwealth or any other political subdivision not pledged
§ 15.2-5949. Expiration of entitlement to certain sales tax revenues