Virginia § 58.1-531 Disposition of proceeds collected; Department's annual statement of costs

Virginia Statutes

§ 58.1-531 — Disposition of proceeds collected; Department's annual statement of costs

Virginia § 58.1-531

JurisdictionVirginia

Title 58.1Taxation

Subtitle ITaxes Administered by the Department of Taxation

Ch. 3Income Tax

Art. 21Setoff Debt Collection Act

This text of Virginia § 58.1-531 (Disposition of proceeds collected; Department's annual statement of costs) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 58.1-531 (2026).

Text

A.Upon effecting final setoffs, the Department shall periodically pay to the respective claimant agencies the proceeds collected on their behalf. However, with respect to amounts collected under this article for any county, city or town, the Department is authorized to deduct a sum, not in excess of twenty-five percent of the amount collected, to offset the cost of making such collection.

B.The Department shall provide the Governor and the chairmen of the House Committee on Finance, the Senate Committee on Finance and Appropriations, and the House Committee on Appropriations with an annual statement setting forth the Department's cost of administering this article.

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A. Upon effecting final setoffs, the Department shall periodically pay to the respective claimant agencies the proceeds collected on their behalf. However, with respect to amounts collected under this article for any county, city or town, the Department is authorized to deduct a sum, not in excess of twenty-five percent of the amount collected, to offset the cost of making such collection.

B. The Department shall provide the Governor and the chairmen of the House Committee on Finance, the Senate Committee on Finance and Appropriations, and the House Committee on Appropriations with an annual statement setting forth the Department's cost of administering this article.