CHAPTER 431

An Act to amend and reenact § 4-22, as amended, of the Code of Virginia,
relating to the disposition of net profits of the Virginia Alcoholic
Beverage Control Board. (H 670]

Approved April 1, 1966

Be it enacted by the General Assembly of Virginia:
1. That § 4-22, as amended, of the Code of Virginia be amended and
reenacted 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 five hundred thousand dollars in connection with the admit
istration of this chapter and to provide for the depreciation on the buil
ings, plant and equipment owned, held or operated by the Board and suc
sums as may be allowed by the Governor during the fiscal years endin
on June thirtieth, nineteen hundred sixty-two, June thirtieth, ninetee
hundred sixty-three, June thirtieth, nineteen hundred sixty-four an
June thirtieth, nineteen hundred sixty-five, not to exceed five hundre
thousand dollars in each such year, for the creation of a special reser
fund to be accumulated and expended in constructing and equipping
central warehouse, at a total cost not to exceed two million dollars fc
plans, construction and equipment, be transferred by the Comptroller {
the general fund of the State treasury quarterly, within fifty days afte
the close of each quarter. When such moneys so transferred by the Com]
troller to the general fund of the State treasury shall during any fisc:
year exceed the sum of seven hundred fifty thousand dollars, two-thirc
of all moneys in excess of seven hundred fifty thousand dollars so tran:
ferred and so paid into the general fund of the State treasury durin
such fiscal year shall be apportioned by the Comptroller and distribute
by warrants of the Comptroller drawn on the Treasurer of Virginia to tt
several counties, cities and towns of the Commonwealth, on the basis «
the population of the respective counties, cities and towns, according 1
the last preceding United States census, for which purpose such portio
of the moneys is hereby appropriated. If the population of any city ¢
town shall have been increased through the annexation of any territo)
since the last preceding United States census, such increase shall, for tt
purpose of this chapter, be added to the population of such city or tow
as shown by the last preceding United States census and a proper reductic
made in the population of the county or counties from which the annexe
territory was acquired. The judge of the circuit court of the county |
which the town or greater part thereof seeking an increase under tl
provisions of this chapter is located is hereby authorized and empowers
to appoint two disinterested persons as commissioners, who shall procee
to determine the population of the territory annexed to the town as of tt
date of the last preceding United States census, and report their findins
to the court, and future distributions of the moneys allocated under tl
provisions of this chapter shall be made in accordance therewith.

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

The term “net profits” as used in this section shall mean the total :
all moneys collected by the Board less all costs, expenses and charg
authorized by § 4-23, other than capital expenditures for buildings, plan
and equipment.