94.630. Funds, how distributed--adjustments, how made--tax abolished, notice of--two percent, retention of, when.
Funds, how distributed--adjustments, how made--tax abolished, noticeof--two percent, retention of, when.
94.630. 1. Not later than the tenth day of each month thedirector of revenue shall distribute all moneys deposited in thetrust fund during the preceding month to the city treasurer orsuch other officer as may be designated by the city ordinanceimposing the tax authorized by sections 94.600 to 94.655, the sumdue the city as certified by the director of revenue.
2. The director of revenue may authorize the statetreasurer to make refunds from the amounts in the trust fund andcredited to any city for erroneous payments and overpaymentsmade, and may redeem dishonored checks and drafts deposited tothe credit of such cities. If any city abolishes the tax, thecity shall notify the director of revenue of the action at leastninety days prior to the effective date of the repeal and thedirector of revenue may order retention in the trust fund, for aperiod of one year, of two percent of the amount collected afterreceipt of such notice to cover possible refunds or overpaymentof the tax and to redeem dishonored checks and drafts depositedto the credit of such accounts. After one year has elapsed afterthe effective date of abolition of the tax in such city, thedirector of revenue shall authorize the state treasurer to remitthe balance in the account to the city and close the account ofthat city. The director of revenue shall notify each city ofeach instance of any amount refunded or any check redeemed fromreceipts due the city.
(L. 1973 H.B. 65 § 7, A.L. 1991 H.B. 29)