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26-54-113. Disposition of funds.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-54-113. Disposition of funds.
(a) All taxes and penalties collected under the provisions of this chapter each month shall be deposited into the State Treasury to the credit of the Revenue Holding Fund Account of the State Apportionment Fund.
(b)(1) On or before the fifth day of the following month, the Treasurer of State shall allocate and transfer the taxes and penalties collected to the General Revenue Fund Account of the State Apportionment Fund until a total of eight million dollars ($8,000,000) has been transferred during a fiscal year.
(2) After the transfers required by subdivision (b)(1) of this section have been made, the taxes and penalties collected under this chapter during the remainder of the fiscal year shall be special revenues, and the Treasurer of State shall transfer the taxes and penalties collected to the Educational Adequacy Fund after making the deductions required by § 19-5-203(b)(2).
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-54-113
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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Record provenance
Stable record: arkansas_code:legal_authorities:26-54-113
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 79cd037c8e9d32734bff8f4e5eaf4b62a5fc95b981cf28f963428f6ce4e50255
Source location: content.xml paragraph 22864
Stored source content
26-54-113. Disposition of funds.
(a) All taxes and penalties collected under the provisions of this chapter each month shall be deposited into the State Treasury to the credit of the Revenue Holding Fund Account of the State Apportionment Fund.
(b)(1) On or before the fifth day of the following month, the Treasurer of State shall allocate and transfer the taxes and penalties collected to the General Revenue Fund Account of the State Apportionment Fund until a total of eight million dollars ($8,000,000) has been transferred during a fiscal year.
(2) After the transfers required by subdivision (b)(1) of this section have been made, the taxes and penalties collected under this chapter during the remainder of the fiscal year shall be special revenues, and the Treasurer of State shall transfer the taxes and penalties collected to the Educational Adequacy Fund after making the deductions required by § 19-5-203(b)(2).
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-203. Special Revenue Fund Account.
(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 account to be known as the “Special Revenue Fund Account” of the State Apportionment Fund to which all gross special revenues are to be credited upon their receipt by the Treasurer of State, there to be distributed as provided in this section.
(b) At the close of books at 12:00 noon on the last working day of each month, the Treasurer of State shall make the following distributions of the gross special revenues in the account on properly signed forms prescribed by him or her, with the approval of the Auditor of State and the Chief Fiscal Officer of the State:
(1) From such gross special revenues received during each month, the Treasurer of State shall deduct the amounts represented by claims, taxes erroneously paid, and uncollected checks from the applicable revenues received during that month and shall keep a record of such for accounting purposes. The remaining revenue in the account shall be designated as net special revenues; and
(2)(A) The Treasurer of State shall then deduct the same percentage as determined to be deducted from net general revenues in § 19-5-202 and be transferred under the same procedures as set forth in § 19-5-202 from each net special revenue collected by any of those agencies enumerated in § 19-5-205(b) and one-half (½) of the percentage deductions set out in § 19-5-202 and transferred in the same proportion to the State Central Services Fund and the Constitutional Officers Fund, from each net special revenue collected by any other department, board, agency, or commission.
(B) The Treasurer of State shall then transfer the remaining net special revenues to the
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-203
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 19-5-203. This identifies an authority to review, not proof of applicability.