Arkansas § 19-5-1126 Arkansas Public Transit Trust Fund

Arkansas Statutes

§ 19-5-1126 — Arkansas Public Transit Trust Fund

(a)There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Arkansas Public Transit Trust Fund".

(b)The fund shall consist of seventy-five percent (75%) of the net revenues derived from the additional rental vehicle tax imposed by § 26-63-302 .

(c)The fund shall be used by the Arkansas Department of Transportation for:

(1)The purpose of acquiring federal matching funds for the purchase of public transportation vehicles;

(2)Public transit equipment or facilities; and (3) The operation of the United States Department of Transportation Federal Transit Administration assistance programs.

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(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Arkansas Public Transit Trust Fund". (b) The fund shall consist of seventy-five percent (75%) of the net revenues derived from the additional rental vehicle tax imposed by § 26-63-302 . (c) The fund shall be used by the Arkansas Department of Transportation for: (1) The purpose of acquiring federal matching funds for the purchase of public transportation vehicles; (2) Public transit equipment or facilities; and (3) The operation of the United States Department of Transportation Federal Transit Administration assistance programs.

Arkansas § 19-5-1126 (Arkansas Public Transit Trust Fund) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Amended by Act 2017, No. 707,§ 52, eff. 8/1/2017. Acts 2003 (1st Ex. Sess.), No. 55, § 18; 2007, No. 182, § 16; 2007, No. 1032, § 29; 2007, No. 1201, § 29.