As Amended
SEC. 27-71-201. Surcharge imposed; use of revenue; repeal of surcharge.
(1) In addition to any tax or markup being collected from the sale of alcoholic beverages on the effective date of this article, the alcoholic beverage control division of the state tax commission shall collect a surcharge of one percent (1%) of the gross proceeds of sales, as defined in section 27-65-3, Mississippi Code of 1972. The surcharge shall be collected by the division from each permittee at the time of sale.
(2) The revenue derived from the surcharge imposed in subsection (1) of this section shall be deposited by the division in a special fund, hereby created in the state treasury, which is designated the "ABC Warehouse Construction Fund." The monies in such special fund are earmarked for use by the state tax commission for any expenditure, including the repayment of loans, it makes to construct and equip a new warehouse for the alcoholic beverage control division as authorized by section 27-71-203.
(3) Any revenue from the surcharge remaining in the fund after payment in full of expenditures to construct and equip the alcoholic beverage control division warehouse shall, at the end of the fiscal year wherein full payment has been made, lapse to the general fund. The imposition of the surcharge itself shall stand repealed by operation of law when there are sufficient revenues in the "ABC Warehouse Construction Fund" to make expenditures to complete the warehouse construction, including the repayment of any loans obtained for such purpose.
SOURCES: Laws, 1981, ch. 503, Sec. 1, eff from and after May 1, 1981.