39-37-110. Distribution of tax collected

39-37-110. Distribution of tax collected. (1) Each month, the state treasurer shall credit the money collected for payment of the tax levied pursuant to this part 1 to the old age pension fund created in section 1 of article XXIV of the state constitution in accordance with section 2 (a) and (f) of article XXIV of the state constitution and shall further transfer an amount equal to this amount from the old age pension fund to the general fund in accordance with section 7 (c) of article XXIV of the state constitution.

(2) Each month, the state treasurer shall transfer an amount equal to the amount of money collected for payment of the tax levied pursuant to this part 1 from the general fund to the fund for distribution in accordance with section 39-37-301 (2).