CHAPTER 623

An Act to amend and reenact § 4-22, as amended, of the Code of Virginia,
relating to disposition of the net profits of the Virginia Alcoholic
Beverage Control Board.
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. Disposition of net profits; portion to localities—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 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 thir-
tieth, nineteen hundred sixty-two, June thirtieth, nineteen hundred sixty-
three, June thirtieth, nineteen hundred sixty-four and June thirtieth, nine-
teen hundred sixty-five, not to exceed five hundred thousand dollars in each
such year, and not to exceed seven hundred fifty thousand dollars for each
of two succeeding fiscal years beginning July first, nineteen hundred sixty-
eight, for the creation of a special reserve fund to be accumulated and
expended * for acquiring or constructing and equipping a central ware-
house, at a total cost not to exceed * three million five hundred thousand
dollars for plans, acquisition or construction and equipment, be trans-
ferred by the Comptroller to the general fund of the State treasury quar-
terly, 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 fifty thou-
sand dollars, two-thirds of all moneys in excess of seven hundred 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 Comp-
troller 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 popu-
lation 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 terri-
tory 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
Governor 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.