Browse Arkansas Code titles and sections
27-64-410. Sources of repayment.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-64-410. Sources of repayment.
The State of Arkansas Federal Grant Anticipation and Tax Revenue Bonds or GARVEE bonds shall be general obligations of the State of Arkansas secured and payable from the designated revenues, as defined herein, and the general revenues of the state. The bonds will be payable first from certain designated revenues, specifically: (1) that portion designated by the State Highway Commission of funds received or to be received from the federal government as federal highway assistance funding allocated to the state designated as federal highway interstate maintenance funds, and (2) revenues derived from the increase in taxes levied on distillate special fuels pursuant to section 2 of the Arkansas Distillate Special Fuel Excise Tax Act of 1999 and the Motor Fuel Excise Tax Act of 1999, §§ 26-55-1005, 26-55-1006, 26-56-201, and 27-72-305 and transferred to the State Highway and Transportation Department Fund pursuant to § 27-70-207(d) in accordance with § 26-55-1006(d). To the extent that designated revenues are insufficient to make timely payment of debt service on the bonds, such payment shall be made from the general revenues of the State of Arkansas. In order to secure the payment of debt service, any trust instrument, resolution, or other document setting forth the security for the bondholders may provide for the direct payment of the federal highway assistance funds that are designated revenues directly into a trust fund, or to a paying agent, for the payment of debt service on the bonds, and it shall not be necessary for such funds to be deposited into the State Treasury.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-64-410
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:27-64-410
Source file: gov.ar.code.title.27.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 16bbc67c73164ee0ba1015986a576906409a1d39fd20d801e70042ef8fa3910f
Source location: content.xml paragraph 21067
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27-64-410. Sources of repayment.
The State of Arkansas Federal Grant Anticipation and Tax Revenue Bonds or GARVEE bonds shall be general obligations of the State of Arkansas secured and payable from the designated revenues, as defined herein, and the general revenues of the state. The bonds will be payable first from certain designated revenues, specifically: (1) that portion designated by the State Highway Commission of funds received or to be received from the federal government as federal highway assistance funding allocated to the state designated as federal highway interstate maintenance funds, and (2) revenues derived from the increase in taxes levied on distillate special fuels pursuant to section 2 of the Arkansas Distillate Special Fuel Excise Tax Act of 1999 and the Motor Fuel Excise Tax Act of 1999, §§ 26-55-1005, 26-55-1006, 26-56-201, and 27-72-305 and transferred to the State Highway and Transportation Department Fund pursuant to § 27-70-207(d) in accordance with § 26-55-1006(d). To the extent that designated revenues are insufficient to make timely payment of debt service on the bonds, such payment shall be made from the general revenues of the State of Arkansas. In order to secure the payment of debt service, any trust instrument, resolution, or other document setting forth the security for the bondholders may provide for the direct payment of the federal highway assistance funds that are designated revenues directly into a trust fund, or to a paying agent, for the payment of debt service on the bonds, and it shall not be necessary for such funds to be deposited into the State Treasury.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-55-1005. Motor fuel excise tax.
This act may be referred to and cited as the “Arkansas Distillate Special Fuel Excise Tax Act of 1999” and the “Motor Fuel Excise Tax Act of 1999”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-55-1005
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 26-55-1005. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-55-1006. Excise tax rates.
(a) In addition to the taxes levied on motor fuel in §§ 26-55-205, 26-55-1002, and 26-55-1201, there is levied an additional excise tax of three cents (3¢) per gallon on all motor fuels subject to the taxes levied in §§ 26-55-205, 26-55-1002, and 26-55-1201.
(b) The tax shall be collected, reported, and paid in the same manner and at the same time as is prescribed by law for the collection, reporting, and payment of the other motor fuel taxes under Arkansas law.
(c) The additional tax levied by this section shall be taken into consideration and used when calculating tax credits or additional tax due under § 26-55-710.
(d) The additional taxes collected pursuant to this section shall be considered special revenues and shall be distributed as set forth in the Arkansas Highway Revenue Distribution Law, § 27-70-201 et seq.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-55-1006
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 26-55-1006. This identifies an authority to review, not proof of applicability.
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
27-72-305. State Aid Road Fund.
(a)(1) There is created in the State Treasury a fund to be known as the State Aid Road Fund, to which the Treasurer of State shall transfer one hundred percent (100%) of the revenues credited to the State Highway Special Construction Account of the State Highway and Transportation Department Fund each month until an aggregate total of thirteen million dollars ($13,000,000) each fiscal year is so transferred, there to be used for construction, reconstruction, and improvements of the state aid road system.
(2)(A) For the fiscal year beginning July 1, 2000, the limitation on the transfer of funds in this subsection (a) shall be increased to fifteen million dollars ($15,000,000);
(B) For the fiscal year beginning July 1, 2001, the limitation on the transfer of funds in this subsection (a) shall be increased to seventeen million dollars ($17,000,000);
(C) For the fiscal year beginning July 1, 2002, the limitation on the transfer of funds in this subsection (a) shall be increased to nineteen million dollars ($19,000,000); and
(D) For the fiscal year beginning July 1, 2003, and for all fiscal years thereafter, there shall be no limitation on the transfer of funds to the State Aid Road Fund.
(b)(1) All revenues deposited in the State Aid Road Fund shall be apportioned to each county as prescribed in § 27-72-309 for the distribution of mileage on the state aid road system among the various counties.
(2) The apportioned funds shall remain for a period of two (2) years from the date they are apportioned.
(3) Any unused funds shall be returned to the State Aid Road Fund for redistribution in accordance with the above formula.
(4) For a county to receive these funds, they must be matched in the ratio of ninety percent (90%) state aid
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-72-305
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 27-72-305. This identifies an authority to review, not proof of applicability.