67-3-205. Aircraft registration account -- source of funds -- allocation. (1) There is an account in the state special revenue fund to which must be credited all money received from fees paid in lieu of tax on aircraft as required in this part and 15-24-304 and all penalties collected for registration violations as provided in 67-3-202.
     (2) Money in the account is allocated as follows:
     (a) 90% to the state general fund; and
     (b) 10% to the department for the purpose of administering and enforcing aircraft registration.
     (3) The allocations required in subsection (2)(a) must be made twice annually by the department. The first allocation must be made between March 15 and March 30 and the second allocation must be made between July 1 and July 15.
     (4) The allocation required in subsection (2)(b) must be made on July 1 of each year.

     History: En. Sec. 3, Ch. 453, L. 1987; amd. Sec. 8, Ch. 628, L. 1989; amd. Sec. 182, Ch. 574, L. 2001.