§ 9-30-109 — Children's Trust Fund

Arkansas § 9-30-109

• Jurisdiction: Arkansas
• Title: 9

Text

(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 special trust fund to be known as the "Children's Trust Fund". (b) All county clerks in this state shall charge a fee of ten dollars ($10.00) in addition to all other fees prescribed by law for each marriage license issued, and the clerks shall transmit the ten-dollar fee to the Treasurer of State who shall deposit it into the trust fund as special revenues. (c) (1) Until the balance of the trust fund reaches ten million dollars ($10,000,000), not more than eighty percent (80%) of the money credited to the trust fund during any fiscal year shall be disbursed during that fiscal year. (2) When the balance in the trust fund reaches ten million dollars ($10,000,000), disbursements from the trust fund shall be limited to the amount in excess of ten million dollars ($10,000,000). (d) The Treasurer of State shall credit to the trust fund all moneys earned on the trust fund balance. (e) No more than twenty percent (20%) of the revenues derived from the marriage license fees during any fiscal year shall be used to cover the administrative costs of the trust fund. (f) The twenty-percent limitation does not apply to capital expenditures.

Legislative History

Amended by Act 2017, No. 897,§ 11, eff. 7/1/2017 Acts 1987, No. 397, § 6; 1991, No. 694, § 1; 1993, No. 174, § 1; 2003, No. 1224, § 2