67-301 - Royalties from offshore natural gas and oil resources.
§ 67-301. Royalties from offshore natural gas and oil resources.
Any revenues and royalties paid to the Commonwealth as a result of offshorenatural gas and oil drilling and exploration shall be appropriated and usedfor the following purposes:
1. Seventy percent of such revenues and royalties to the Transportation TrustFund established pursuant to § 33.1-23.03:1;
2. Twenty percent of such revenues and royalties to the Virginia CoastalEnergy Research Consortium established pursuant to § 67-600; and
3. Ten percent of such revenues and royalties to the localities of theCommonwealth for improvements to infrastructure and transportation.
(2010, c. 98.)