Chap. 203.—An ACT to amend and re-enact Section 16, as amended, of chapter
94 of the Acts of the General Assembly of Virginia, of 1934, approved March 7,
1934, and known, designated and cited as the Alcoholic Beverage Control Act.
relating to the distribution of net profits. {H 92]

Approved March 11, 1944

Be it enacted by the General Assembly of Virginia:

1, ‘That section sixteen, as amended, of chapter ninety-four of the
acts of the General Assembly of Virginia of nineteen hundred thirty-
four, approved March seventh, nineteen hundred thirty-four, and known,
designated and cited as the Alcoholic Beverage Control Act, be amended
and re-enacted, as follows:

Section 16. Net profits, after deducting reserve fund, to be trans-
ferred to general fund of State treasury; distribution of a portion to
localities —The net profits derived under the provisions of this act shall,
after deducting therefrom such sums as may be allowed the board by the
Governor for the creation of a reserve fund not exceeding the sum of one
million dollars in connection with the administration of this act and to
provide for the depreciation on the buildings, plant and equipment owned,
held or operated by the board, be transferred by the comptroller to the
general fund of the State treasury quarterly, within fifty days after the
close of each quarter. When such monies so transferred by the comp-
troller to the general fund of the State treasury shall during any fiscal
vear exceed the sum of seven hundred and fifty thousand dollars, two-
thirds of all moneys in excess of seven hundred and fifty thousand dollars
so transferred and so paid into the general fund of the State treasury
during such fiscal year shall be apportioned and distributed by the Treas-
urer of Virginia, upon warrants of the comptroller, to the several coun-
ties, cities and towns of the Commonwealth, on the basis of the population
of the respective counties, cities and towns of the Commonwealth, accord-
ing to the last preceding United States census, for which purpose such
portion of the moneys is hereby appropriated. If the population of any
city or town shall have been increased through the annexation of any
territory since the last preceding United States census, such increase
shall, for the purpose of this act, be added to the population of such city
or town as shown by the last preceding United States census and a proper
reduction made in the population of the county or counties from which
the annexed territory was acquired. The judge of the circuit court of
the county in which the town or greater part thereof seeking an increase
under the provisions of this act 1s located is hereby authorized and em-
powered to appoint two disinterested persons as commissioners, who shall
proceed to determine the population of the territory annexed to the town
as of the date of the last preceding United States census, and report their
findings to the court, and future distributions of the moneys allocated
under the provisions of this act shall be made in accordance therewith.
The term “net profits” as used in this section shall mean the total of
all moneys collected by the board less all costs, expenses, and charges
authorized by section seventeen of this act, other than capital expenditures
for buildings, plants and equipment.