The receipts from the tax and any associated interest and penalties shall be deposited in the "motor vehicle suspense fund", hereby created in the state treasury. As of the end of each month, the net receipts attributable to the tax and associated penalties and interest shall be distributed as follows:

A. prior to July 1, 2021:

(1) seventy-one and eighty-nine hundredths percent to the general fund;

(2) three and eleven hundredths percent to the state road fund; and

(3) twenty-five percent to the department of transportation, for expenditures needed to mitigate the emergency road conditions related to activity in the oil field in state transportation commission district 2; and

B. beginning July 1, 2021:

(1) fifty-nine and thirty-nine hundredths percent to the general fund;

(2) twenty-one and eighty-six hundredths percent to the state road fund; and

(3) eighteen and seventy-five hundredths percent to the local governments road fund.

History: 1978 Comp., § 7-14-10, enacted by Laws 1988, ch. 73, § 20; 1991, ch. 9, § 35; 1993, ch. 347, § 3; 1994, ch. 5, § 25; 2018, ch. 3, § 1; 2019, ch. 270, § 45.

The 2019 amendment, effective July 1, 2019, revised how funds from the motor vehicle suspense fund are distributed; and deleted former Subsections A and B and added new Subsections A and B.

The 2018 amendment, effective July 1, 2018, distributed a portion of the revenue from the motor vehicle excise tax to the state road fund; in the introductory clause, after "shall be distributed", added "as follows:"; added Subsection A and new subsection designation "B."; and in Subsection B, added "the remainder".

The 1994 amendment, effective August 1, 1994, deleted former Subsections A and B, relating to distribution of receipts, deleted "motor vehicle excise" preceding "tax" in both sentences, and substituted "to the general fund" for "as follows" in the second sentence.

The 1993 amendment, effective July 1, 1993, substituted "governments" for "government's" in Subsection B.

The 1991 amendment, effective July 1, 1991, deleted former Subsection A which read "five-twelfths to the state road fund"; redesignated former Subsections B and C as Subsections A and B; substituted "three-fourths" for "one-third" in Subsection A; and substituted "one-fourth" for "the remainder" in Subsection B.