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"§247-7 Disposition of taxes. All taxes collected under <br />this chapter shall be paid into the state treasury to the credit <br />of the general fund of the State, to be used and expended for <br />the purposes for which the general fund was created and exists <br />by law; provided that of the taxes collected each fiscal year: <br />(1) [Ttan] Lig!21 per cent [or $5,100,000, whichever is lessd shall be paid into the <br />land conservation fund established pursuant to section 173A-5; [and] <br />(2) [Fifty pef eePA of $38,000,000, whichever is ] Thirty-eight per cent shall <br />be paid into the rental housing revolving fund established by section 201H-202[-.], <br />Q) Eight per cent shall be paid into the affordable homeownership revolving fund <br />established pursuant to section 20 1 H-206; <br />(4) Eight per cent shall be paid into the homeless services special fund established <br />pursuant to section 346- ; an <br />0) Eight per cent shall be paid into the dwelling unit revolving fund established <br />pursuant to section 20 1 H- 191 for the purposes of funding infrastructure programs in <br />transit -oriented development areas." <br />SECTION 7. Statutory material to be repealed is bracketed <br />and stricken. New statutory material is underscored. <br />SECTION 8. This Act shall take effect on July 1, 3000. <br />