Arkansas § 19-5-935 Employment Security Advance Interest Trust Fund

Arkansas Statutes

§ 19-5-935 — Employment Security Advance Interest Trust Fund

Arkansas § 19-5-935

Title19

This text of Arkansas § 19-5-935 (Employment Security Advance Interest Trust Fund) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 19-5-935 (2026).

Text

(a)There is established 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 "Employment Security Advance Interest Trust Fund".

(b)The Employment Security Advance Interest Trust Fund shall consist of receipts from the advance interest tax and any penalties and interest, as transferred from the Unemployment Compensation Fund Clearing Account, there to be used for:

(1)Paying interest incurred by the state on advances from the Federal Unemployment Trust Fund;

(2)Making refunds of advance interest taxes or interest and penalty payments which were erroneously paid; and (3) Returning moneys to the account which were incorrectly identified and erroneously transferred.

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(a) There is established 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 "Employment Security Advance Interest Trust Fund". (b) The Employment Security Advance Interest Trust Fund shall consist of receipts from the advance interest tax and any penalties and interest, as transferred from the Unemployment Compensation Fund Clearing Account, there to be used for: (1) Paying interest incurred by the state on advances from the Federal Unemployment Trust Fund; (2) Making refunds of advance interest taxes or interest and penalty payments which were erroneously paid; and (3) Returning moneys to the account which were incorrectly identified and erroneously transferred.