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19-5-906. Ad Valorem Tax Fund.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-906. Ad Valorem Tax Fund.
(a)(1) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a trust fund to be known as the “Ad Valorem Tax Fund”.
(2) The Ad Valorem Tax Fund shall consist of those trust revenues derived from the ad valorem taxes as authorized by §§ 26-26-1614 — 26-26-1616 and § 26-26-1701 et seq.
(3) The Ad Valorem Tax Fund shall be used to reimburse the State Central Services Fund on account of expenditures made for local audits by Arkansas Legislative Audit and to the appropriate fund or fund account from which the Tax Division of the Arkansas Public Service Commission and the Assessment Coordination Department derive their support, there to be used to reimburse such fund or fund account for expenditures made by Arkansas Legislative Audit, the Tax Division of the Arkansas Public Service Commission, and the Assessment Coordination Department each fiscal year.
(b) All ad valorem tax moneys transferred to the appropriate fund or fund account from which the department derives its support, as required by subsection (a) of this section, remaining at the end of a fiscal year shall remain in the fund or fund account and shall be carried forward and made available to the department in the following fiscal year.
(c) In the event there are insufficient moneys available in the Ad Valorem Tax Fund to fully reimburse the appropriate funds or fund accounts, the Chief Fiscal Officer of the State shall transfer to each fund an amount based upon the following:
(1) Eighty percent (80%) to the State Central Services Fund for local audits by Arkansas Legislative Audit;
(2) Five percent (5%) to the appropriate fund or fund account from which the Tax Division of the Arkansas Public Service
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-906
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:19-5-906
Source file: gov.ar.code.title.19.odt
Pages: Not recorded – Not recorded
Passage SHA-256: a16f2512a9caa8893314a79cb76dc051f4a9bfc9a11dfb2eaf8487ffcdcc7941
Source location: content.xml paragraph 6482
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19-5-906. Ad Valorem Tax Fund.
(a)(1) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a trust fund to be known as the “Ad Valorem Tax Fund”.
(2) The Ad Valorem Tax Fund shall consist of those trust revenues derived from the ad valorem taxes as authorized by §§ 26-26-1614 — 26-26-1616 and § 26-26-1701 et seq.
(3) The Ad Valorem Tax Fund shall be used to reimburse the State Central Services Fund on account of expenditures made for local audits by Arkansas Legislative Audit and to the appropriate fund or fund account from which the Tax Division of the Arkansas Public Service Commission and the Assessment Coordination Department derive their support, there to be used to reimburse such fund or fund account for expenditures made by Arkansas Legislative Audit, the Tax Division of the Arkansas Public Service Commission, and the Assessment Coordination Department each fiscal year.
(b) All ad valorem tax moneys transferred to the appropriate fund or fund account from which the department derives its support, as required by subsection (a) of this section, remaining at the end of a fiscal year shall remain in the fund or fund account and shall be carried forward and made available to the department in the following fiscal year.
(c) In the event there are insufficient moneys available in the Ad Valorem Tax Fund to fully reimburse the appropriate funds or fund accounts, the Chief Fiscal Officer of the State shall transfer to each fund an amount based upon the following:
(1) Eighty percent (80%) to the State Central Services Fund for local audits by Arkansas Legislative Audit;
(2) Five percent (5%) to the appropriate fund or fund account from which the Tax Division of the Arkansas Public Service Commission derives its support; and
(3) Fifteen percent (15%) to the appropriate fund or fund account from which the Assessment Coordination Department derives its support.
(d)(1) Any moneys that may be available after reimbursing the various funds or fund accounts as provided in this section shall be transferred annually to the County Aid Fund by the Chief Fiscal Officer of the State.
(2) Thereafter the Treasurer of State shall transmit the moneys to the respective county treasurers, as provided by §§ 26-26-1616, 26-26-1701, and 26-26-1707.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-26-1614. Levy and collection of taxes.
(a)(1) Having ascertained and fixed the taxable value of the tangible and intangible property used or held for use in the operation of each intercounty bus line, intercounty motor freight, airline, or water transportation company, as required by law, the Tax Division of the Arkansas Public Service Commission shall levy and extend against each valuation the average rate of ad valorem levy prevailing throughout this state for the assessment year, and then ten (10) days before the due date, the division shall certify the tax to the Secretary of the Department of Finance and Administration for collection.
(2) The secretary shall immediately forward by first-class mail a notice showing the assessed valuation, applicable rate of levy, the amount of tax charged, and the due date of the tax charged to each company against which a tax has been extended and so certified.
(b)(1) If the taxes are not paid on or before the date on which ad valorem taxes or any part of ad valorem taxes on personal property become delinquent, the secretary shall add a penalty of ten percent (10%) and mail a statement of the tax and penalty to each person, company, or corporation so delinquent.
(2)(A) If the tax and penalty are not paid on or before the date on which a county collector may collect taxes by distraint, in lieu of the ten percent (10%) penalty, the secretary shall add to the tax a penalty of twenty-five percent (25%).
(B) The statement of tax and ten percent (10%) penalty from the secretary shall warn that if the tax and penalty are not paid within the time stated, in lieu of the ten percent (10%) penalty, a penalty of twenty-five percent (25%) will be added.
(c)(1) For the purpose of collecting the taxes and penalties, in addition to
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-26-1614
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 26-26-1614. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-26-1616. Disposition of taxes and penalties.
(a)(1) Except as provided in subsections (c) and (d) of this section, all taxes and penalties collected under § 26-26-1614 shall be deposited into the State Treasury as trust fund income to the credit of the Ad Valorem Tax Fund.
(2)(A) The Treasurer of State shall annually transmit to the respective county treasurers of the several counties of this state the proportionate part of the Ad Valorem Tax Fund coming from the source that the improved state highway mileage in each county bears to the improved state highway mileage in all counties, the highway mileage figures to be furnished by the Arkansas Department of Transportation on request of the Treasurer of State.
(B) The respective county treasurers shall prorate the amount so received among the several county funds, school districts, and municipalities of the county in the same ratio that the taxes received from the millage levy by each bore to the total taxes from the millage levy received by all county funds, school districts, and municipalities, according to the local county collector's settlement for the particular assessment year.
(b)(1) So long as any agency of this state shall have the function or be charged with the duty of making audits of the records and accounts of the officers and employees of counties, municipalities, or school districts or so long as any agency of this state shall have the function or be charged with the duty of assessing the property referred to in this subchapter or so long as any agency of this state shall have the function or be charged with the duty of furnishing guidance, instruction, and assistance to the county assessor in the performance of his or her duties, then the aggregate total amount expended by this state in the per
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-26-1616
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 26-26-1616. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-26-1701. Definition.
As used in this subchapter, unless the context otherwise requires, “private car company” means every person, company, or corporation other than a railroad company, engaged in the business of operating cars or engaged in the business of furnishing or leasing cars for the transportation of freight, property, or persons, whether or not the cars are owned by the person, company, or corporation, over any railway lines, in whole or in part within this state, whether the cars are termed box, coal, flat, furniture, gondola, ore, refrigerator, stock, tank, express, or sleeping car, or by some other name.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-26-1701
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 26-26-1701. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-26-1707. Disposition of taxes and penalties.
(a)(1) All taxes and penalties collected under the provisions of this subchapter shall be deposited into the State Treasury as trust fund income, to the credit of the Ad Valorem Tax Fund.
(2)(A) The Treasurer of State shall annually transmit to the respective county treasurers of the several counties of the state the proportionate part of the fund coming from the source that the assessed value of the single or first main track railroad mileage in his or her respective county bears to the assessed value of the single or first main track railroad mileage in all counties, the ratios to be furnished by the Tax Division of the Arkansas Public Service Commission on request of the Treasurer of State.
(B) The respective county treasurers shall allocate the amount so received among the several county funds and the school districts and municipalities of his or her county in which is located main track railroad mileage, in the ratio that millage taxes payable to each on the assessed value of single or first main track railroad mileage for the respective assessment year, when separately computed, bears to the total millage taxes payable to all such funds, districts, and municipalities from this source, when separately computed.
(b)(1) So long as any agency of this state has the function or is charged with the duty of making audits of the records and accounts of the officers and employees of counties, municipalities, or school districts, or so long as any agency of this state has the function or is charged with the duty of assessing the property referred to in this subchapter, or so long as any agency of this state has the function or is charged with the duty of furnishing guidance, instruction, and assistance to the county ass
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-26-1707
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 26-26-1707. This identifies an authority to review, not proof of applicability.