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27-64-302. Legislative findings and intent.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-64-302. Legislative findings and intent.
The General Assembly finds that:
(1) There is an immediate need for highway improvements throughout the State of Arkansas in order to provide for the health, safety, and welfare of its citizens and to promote economic development within the state;
(2) Through the revenues generated under the Arkansas Highway Financing Act of 1999, § 27-64-201 et seq., the State Highway Commission has been successful in completing the rehabilitation of much of the state's interstate highway system and that the rehabilitation has been carried out in an efficient, cost-effective manner;
(3) Continued improvement of the interstate highway system is necessary and that the best way to accomplish the improvement expeditiously is through the issuance of additional federal highway grant anticipation and tax revenue bonds to finance highway improvements;
(4) The bonds should be payable from revenues currently designated by the Arkansas Highway Financing Act of 1999, § 27-64-201 et seq., including federal highway assistance funding and available proceeds from the distillate special fuels tax levied under § 26-56-201(e); and
(5) The repayment of the bonds shall also be guaranteed by the full faith and credit of the state.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-64-302
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:27-64-302
Source file: gov.ar.code.title.27.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 1c3390f99ce2a47513df37edb96544703521524e1644ffe60bf1ce0f864e6e0a
Source location: content.xml paragraph 20834
Stored source content
27-64-302. Legislative findings and intent.
The General Assembly finds that:
(1) There is an immediate need for highway improvements throughout the State of Arkansas in order to provide for the health, safety, and welfare of its citizens and to promote economic development within the state;
(2) Through the revenues generated under the Arkansas Highway Financing Act of 1999, § 27-64-201 et seq., the State Highway Commission has been successful in completing the rehabilitation of much of the state's interstate highway system and that the rehabilitation has been carried out in an efficient, cost-effective manner;
(3) Continued improvement of the interstate highway system is necessary and that the best way to accomplish the improvement expeditiously is through the issuance of additional federal highway grant anticipation and tax revenue bonds to finance highway improvements;
(4) The bonds should be payable from revenues currently designated by the Arkansas Highway Financing Act of 1999, § 27-64-201 et seq., including federal highway assistance funding and available proceeds from the distillate special fuels tax levied under § 26-56-201(e); and
(5) The repayment of the bonds shall also be guaranteed by the full faith and credit of the state.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-56-201. Imposition of tax — Exemptions.
(a)(1)(A)(i) There is levied an excise tax at the rate of eight and one-half cents (8½¢) per gallon on all distillate special fuel sold or used in this state or purchased for sale or use in this state.
(ii) In addition to the tax levied in subdivision (a)(1)(A)(i) of this section, there is levied an excise tax at the rate of one cent (1¢) per gallon on all distillate special fuel sold or used in this state or purchased for sale or use in this state.
(B) The additional levies provided in subdivision (a)(2) of this section and § 26-56-502 are specifically intended to apply to the taxes levied by this section and shall remain effective.
(2) In addition to the tax levied in subdivision (a)(1) of this section, there is levied an excise tax of one cent (1¢) for each gallon of distillate special fuel, as defined in § 26-56-102, sold or used in this state, or purchased for sale or use in this state, to be computed in the manner set forth in this section.
(b) The following are exempted from the tax levied by subsection (a) of this section:
(1) Sales to the United States Government;
(2) Sales to dealers, users, or off-road consumers for off-road use only if the distillate special fuel was delivered by the supplier into storage facilities clearly marked “NOT FOR MOTOR VEHICLE USE”;
(3) Sales of distillate special fuel by a licensed supplier for export from the State of Arkansas when shipped by common carrier FOB destination to any other state or territory or to any foreign country, or the export of distillate special fuel by a licensed supplier from the State of Arkansas to any other state or territory or to any foreign country, if satisfactory proof of actual exportation of all the distillate special fuel is furnished at
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-56-201
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 26-56-201. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-64-201. Title.
This subchapter may be referred to and cited as the “Arkansas Highway Financing Act of 1999”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-64-201
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 27-64-201. This identifies an authority to review, not proof of applicability.