Daytona Beach, FL - Update: On Wednesday, the Daytona Beach City Commission voted to renew an agreement with Volusia County for distribution of money from local gas taxes for one year. Earlier Reporting: At its Wednesday meeting, the Daytona Beach City Commission will vote on a renewal of an agreement with Volusia County for distribution of money from local gas taxes. The current local option fuel tax agreement was put into effect in September of 2013 and is set to expire on August 31 of this year. If Wednesday's measure is approved, it will renew the City's agreement with the County for the allocation of money collected from the gas taxes for another year. The renewal will expire on August 31, 2019. Volusia County imposes a 6-cent local option fuel tax and an additional 5-cent local option fuel tax on each gallon of motor oil sold in the County, as allowed by the State. According to City of Daytona Beach records, approximately 57.2% of revenue from local fuel taxes collected in Volusia County is distributed to the County, and approximately 42.8% of that revenue is distributed among the local municipalities for transportation costs. Daytona Beach receives approximately 7.7% of the first $22 million from that revenue each calendar year. Copyright Southern Stone Communications 2018.