Arkansas § 26-59-122 Disposition and allocation of funds

Arkansas Statutes

§ 26-59-122 — Disposition and allocation of funds

Arkansas § 26-59-122

Title26

This text of Arkansas § 26-59-122 (Disposition and allocation of funds) 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. § 26-59-122 (2026).

Text

(a)All taxes, fees, penalties, and costs received by the Secretary of the Department of Finance and Administration under this chapter shall be general revenues and shall be deposited into the State Treasury to the credit of the State Apportionment Fund, except that the amount of estate taxes collected in a calendar year that exceeds ten percent (10%) of the average annual estate taxes collected for a five-year period immediately preceding the calendar year or fifteen million dollars ($15,000,000), whichever is greater, shall be deposited into the State Treasury as special revenues and credited to the General Improvement Fund or its successor fund or fund accounts, including the Development and Enhancement Fund.

(b)The Treasurer of State shall allocate and transfer the funds to the variou

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(a) All taxes, fees, penalties, and costs received by the Secretary of the Department of Finance and Administration under this chapter shall be general revenues and shall be deposited into the State Treasury to the credit of the State Apportionment Fund, except that the amount of estate taxes collected in a calendar year that exceeds ten percent (10%) of the average annual estate taxes collected for a five-year period immediately preceding the calendar year or fifteen million dollars ($15,000,000), whichever is greater, shall be deposited into the State Treasury as special revenues and credited to the General Improvement Fund or its successor fund or fund accounts, including the Development and Enhancement Fund. (b) The Treasurer of State shall allocate and transfer the funds to the various State Treasury funds participating in general revenues in the respective proportions to each as provided by and to be used for the respective purposes set forth in the Revenue Stabilization Law, § 19-5-101 et seq.

Legislative History

Amended by Act 2019, No. 82,§ 22, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 4288, eff. 7/1/2019. Acts 1941, No. 136, § 45 as added by Acts 1953, No. 118, § 32(J); A.S.A. 1947, § 63-144; Acts 1993, No. 590, § 1; 1995, No. 270, § 8; 1999, No. 1568, § 1; 2001, No. 1681, § 4.