(a) As used in this section, “other taxes” include all taxes other than income taxes.
(b) The Commissioner of Finance shall maintain in the General Ledger of the General Fund of the Treasury of the Virgin Islands an account to be designated as the reserve for other taxes and license refunds. There shall be credited directly to such reserve account monthly not less than five percent (5%) of the receipts from other taxes and license collections. Any refunds with respect to such collections shall be paid by the Commissioner of Finance without the necessity of annual appropriations and shall be chargeable to the reserve account. Funds not paid out of the reserve account in any fiscal year shall revert to the General Fund at the end of the fiscal year.