CHAPTER 385

An Act to amend and reenact § 4-22, as amended, of the Code of Virginia,
relating to the disposition of the net profits of the Virginia Alcoholic
Beverage Control Board.

[S 268]

Approved March 30, 1962

Be it enacted by the General Assembly of Virginia:

1. That § 4-22, as amended, of the Code of Virginia, be amended and re-
enacted as follows:

§ 4-22. The net profits derived under the provisions of this Chapter
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 chapter
and to provide for the depreciation on the buildings, plant and equipment
owned, held or operated by the Board and such sums as may be allowed by
the Governor during the fiscal years ending on June 80, 1962, June 30, 1968,
June 30,1964 and June 30, 1965, not to exceed five hundred thousand dollars
in each such year, for the creation of a special reserve fund to be accumu-
lated and expended in constructing and equipping a central warehouse in
the City of Richmond, at a total cost not to exceed two million dollars
for plans, construction and equipment, 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 moneys so transferred by the Comptroller
to the general fund of the State treasury shall during any fiscal year
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 by the Comptroller and distributed by
warrants of the Comptroller drawn on the Treasurer of Virginia to the
several counties, cities and towns of the Commonwealth, on the basis of
the population of the respective counties, cities and towns, according 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 chapter, 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
chapter is located is hereby authorized and empowered 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 chapter shall be made in accordance therewith.

In making the aforesaid apportionment between the general fund of
the State Treasury on the one hand and the several counties, cities and
towns on the other, the normal computation of respective shares under this
section shall be modified to the extent that any sums allowed by the Gov-
ernor during any of the above-specified fiscal years for the creation of the
above-described special warehouse reserve fund shall be deducted entirely
from the share allocable to the general fund of the State Treasury and not
from the share distributable to the several counties, cities and towns.

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 § 4-23, other than capital expenditures for buildings, plants
and equipment.