(a) All revenues collected from the severance of sand, gravel, sandstone, chert and limestone in the county, less an amount to cover the expenses of administration and collection and all of the interest and penalties collected, which shall be retained by the department of revenue and credited to its current service revenue to cover the expenses of administration and collection, shall be remitted quarterly to the county trustee as soon as practical following the end of a calendar quarter.
(b) (1) These revenues must be credited to the county road fund and used for the construction, maintenance, and repair of the county system.(2) Not later than ninety (90) days after the end of the county's fiscal year, each county that receives revenue from a tax levied pursuant to this part shall provide an annual written report to the commissioner of transportation, the chair of the transportation and safety committee of the senate, and the chair of the committee of the house of representatives having jurisdiction over transportation issues, detailing the amount of revenue deposited into the county road fund during the previous fiscal year, the amount of revenue spent by the county, and how those expenditures have been designated and used for construction, maintenance, and repair of the county system pursuant to subdivision (b)(1).(3) Annual written reports submitted pursuant to subdivision (b)(2) are subject to audit by the comptroller of the treasury.
(1) These revenues must be credited to the county road fund and used for the construction, maintenance, and repair of the county system.
(2) Not later than ninety (90) days after the end of the county's fiscal year, each county that receives revenue from a tax levied pursuant to this part shall provide an annual written report to the commissioner of transportation, the chair of the transportation and safety committee of the senate, and the chair of the committee of the house of representatives having jurisdiction over transportation issues, detailing the amount of revenue deposited into the county road fund during the previous fiscal year, the amount of revenue spent by the county, and how those expenditures have been designated and used for construction, maintenance, and repair of the county system pursuant to subdivision (b)(1).
(3) Annual written reports submitted pursuant to subdivision (b)(2) are subject to audit by the comptroller of the treasury.
(c) Any adjustment of taxes, interest or penalties that is necessary to adjust any error in collection or disbursement may be made at a subsequent collection or disbursement.