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26-59-122. Disposition and allocation of funds.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-59-122. Disposition and allocation of funds.
(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.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-59-122
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:26-59-122
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: e056c2204a2916b6310f44a1a4a8a28a3b3a173b92c112a21bf4d2ebeb85818b
Source location: content.xml paragraph 30486
Stored source content
26-59-122. Disposition and allocation of funds.
(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.
Cross-references
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-101. Title.
This chapter shall be known and cited as the “Revenue Stabilization Law”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-101
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 19-5-101. This identifies an authority to review, not proof of applicability.