Arkansas § 20-77-703 Creation of Special Needs Trust Revolving Fund

Arkansas Statutes

§ 20-77-703 — Creation of Special Needs Trust Revolving Fund

Arkansas § 20-77-703

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Bluebook

Ark. Code Ann. § 20-77-703 (2026).

Text

(a)There is created in the State Treasury a revolving fund to be designated the "Special Needs Trust Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of:

(1)All moneys received from those individuals who desire to establish or maintain eligibility for benefits under the medical assistance program but who possess income or resources, including funds recovered from third parties, in excess of the established federal eligibility requirements, and the consideration for divestiture of income and resources shall be presumed to be for adequate and fair compensation; and (2) All moneys received by the cotrustees of the Special Needs Trust Revolving Fund from any other source, including moneys received from any state, federal, or priv

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(a) There is created in the State Treasury a revolving fund to be designated the "Special Needs Trust Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of: (1) All moneys received from those individuals who desire to establish or maintain eligibility for benefits under the medical assistance program but who possess income or resources, including funds recovered from third parties, in excess of the established federal eligibility requirements, and the consideration for divestiture of income and resources shall be presumed to be for adequate and fair compensation; and (2) All moneys received by the cotrustees of the Special Needs Trust Revolving Fund from any other source, including moneys received from any state, federal, or private source. (b) All interest earned as a result of investing moneys in the fund shall be paid into the fund and not into the general revenues of this state. All moneys accruing to the credit of the fund are appropriated and may be budgeted and expended by cotrustees for the purpose of implementing the provisions of this subchapter. If the cotrustees do not agree about the payment of any benefit or benefits, the determination of the Department of Human Services shall be binding.