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•'t Ilk FMAI Ok L91 = kkq• 11 I (b) Each year, during the term of the imposition of this tax, the division and distribution of tax proceeds under this article shall be evaluated and recalculated based upon the following formula: The percentage of total revenue allocated to each eligible entity equals one- third (1/3) of the entity's percentage of total equivalent lane miles of road plus one-third (1/3) of the entity's percentage of transportation expenditures over the previous five (5) years plus one-third (1/3) of the entity's total percentage of population residing in the area based upon the 1984 most recent estimate from the Florida Bureau of Economic and Business Research. Each eligible entity (municipality) shall report the above information to the Indian River County Public Works Director by April 30th of each year. Should the above information not be reported to the Public Works Director by April 30th of each year, the Public Works Director shall recalculate the distribution of proceeds based upon the previous year's information, or other reliable information, whichever is more recent, for each non -reporting eligible entity (municipality). By August June 15 of each year, the county shall provide the Florida State Department of Revenue a certified copy of the distribution proportions established by interlocal agreement under this section. The revised distribution of tax proceeds shall become effective on September 1 of each the same year. (c) If, during the term of the imposition of this tax, the county or any of the municipalities become ineligible to receive a share of the local option gas tax for any reason, any funds otherwise undistributed because of ineligibility shall be distributed by the department of revenue to eligible governments within Indian River County in proportion to other monies distributed pursuant to this section. (d) The distribution formula established the population herein shall of the incorporated area within the county. Said agreement distribution shall provide a distribution tax imposed through formula for dividing the entire proceeds of the local option gas tax among the county government and all eligible municipalities within the county. Said formula is set forth in paragraph (b) of this section. The method of distribution of the local option gas tax revenues shall be reviewed and a public hearing held in May at least every two (2) years by the parties to the agreement. (b) Each year, during the term of the imposition of this tax, the division and distribution of tax proceeds under this article shall be evaluated and recalculated based upon the following formula: The percentage of total revenue allocated to each eligible entity equals one- third (1/3) of the entity's percentage of total equivalent lane miles of road plus one-third (1/3) of the entity's percentage of transportation expenditures over the previous five (5) years plus one-third (1/3) of the entity's total percentage of population residing in the area based upon the 1984 most recent estimate from the Florida Bureau of Economic and Business Research. Each eligible entity (municipality) shall report the above information to the Indian River County Public Works Director by April 30th of each year. Should the above information not be reported to the Public Works Director by April 30th of each year, the Public Works Director shall recalculate the distribution of proceeds based upon the previous year's information, or other reliable information, whichever is more recent, for each non -reporting eligible entity (municipality). By August June 15 of each year, the county shall provide the Florida State Department of Revenue a certified copy of the distribution proportions established by interlocal agreement under this section. The revised distribution of tax proceeds shall become effective on September 1 of each the same year. (c) If, during the term of the imposition of this tax, the county or any of the municipalities become ineligible to receive a share of the local option gas tax for any reason, any funds otherwise undistributed because of ineligibility shall be distributed by the department of revenue to eligible governments within Indian River County in proportion to other monies distributed pursuant to this section. (d) The distribution formula established herein shall also govern the division and distribution of proceeds of the local option gas tax imposed through August Coding: Words underscored are additions to text; words in stFkethMu format are deletions to text.