(1) The Department shall collect the tax from the operator and deposit the revenues received from the tax in special funds established for purposes set forth herein. Interest on moneys deposited in the funds shall accrue proportionately to the respective funds as provided herein. The Department is hereby authorized to establish rules and regulations concerning the collection of the tax.

(2) With respect to the revenues received pursuant to Section 19-2402, relating to Imposition and Rate of Hotel Room Rental Tax: There shall be deposited in a special fund, established pursuant to Subsection (1), for the use of tourist promotion agencies for tourist promotion activities, one hundred percent (100%) of all revenues received from taxes imposed pursuant to this Section prior to 12:01 A.M. of the eighth (8th) day following the effective date of this Chapter. Upon the effective date of this Chapter, there shall be deposited in a special fund, established pursuant to Subsection (1), for the use of tourist promotion agencies for tourist promotion agency activities:^[325]

(a) Sixty percent (60%) of all revenues received from taxes imposed pursuant to this Section for the fiscal year of the City commencing July 1, 1986, until the next fiscal year of the City following substantial completion of the main convention area.

(b) Forty-one and two-thirds percent (41 2/3%) of all revenues received pursuant to this Section for the fiscal year of the City commencing after the substantial completion of the main convention area and each fiscal year thereafter ending prior to July 1, 1999.

(c) Thirty-three and one-third percent (33 1/3%) of all revenues received pursuant to this Section for the fiscal year of the City commencing on or after July 1, 1999, and each fiscal year thereafter ending prior to July 1, 2010.

(d) Twenty-nine and one hundred and sixty-six one-thousandths percent (29.166%) of all revenues received pursuant to this Section for the fiscal year of the City commencing on or after July 1, 2010, and each fiscal year thereafter ending prior to July 1, 2015.

(e) Twenty-five percent (25%) of all revenues received pursuant to this Section for the fiscal year of the City commencing July 1, 2015, and thereafter.

The balance of revenues to be received from taxes imposed pursuant to this Section shall be deposited in a special fund, established pursuant to Subsection (1), for the use of the authority for convention center purposes, provided that, notwithstanding the other provisions of this Chapter, in the event that construction of the main convention area is not commenced by December 31, 1988, all revenues received pursuant to this Chapter for the period after December 31, 1988, shall be used for tourist promotion agency purposes.

(3) With respect to the revenues received pursuant to Section 19-2402.1, relating to Imposition and Rate of Tourism and Marketing Tax: There shall be deposited in a special fund, established pursuant to Subsection (1), for the use of the regional attractions marketing agency, one hundred percent (100%) of all revenues received from taxes imposed pursuant to this Section.^[326]