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6-5-301. Creation — Funding.
Arkansas Code — all titles (historical 2020) · legal_authorities
6-5-301. Creation — Funding.
(a)(1) There is hereby established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Educational Excellence Trust Fund”.
(2) For each of the state's fiscal years, the Chief Fiscal Officer of the State shall determine as an annual allocation for this fund an amount based on the total net general revenues as enumerated in § 19-6-201(1) and (2), which were collected in the immediate past year, times a factor of 0.1414.
(b)(1) On the last day of each month of the respective fiscal year, the Chief Fiscal Officer of the State shall certify to the Treasurer of State an amount based on one-twelfth (1/12) of the annual allocation determined in subsection (a) of this section for transfer to the fund.
(2) The Treasurer of State shall make such transfer after making the deductions required from the net general revenues as set out in § 19-5-202(b)(2)(B)(i).
Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-5-301
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:6-5-301
Source file: gov.ar.code.title.06.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 0c68d77dba3bb397c1d16a56189913f531a67cc3368c87dd6f07bde689971140
Source location: content.xml paragraph 1164
Stored source content
6-5-301. Creation — Funding.
(a)(1) There is hereby established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Educational Excellence Trust Fund”.
(2) For each of the state's fiscal years, the Chief Fiscal Officer of the State shall determine as an annual allocation for this fund an amount based on the total net general revenues as enumerated in § 19-6-201(1) and (2), which were collected in the immediate past year, times a factor of 0.1414.
(b)(1) On the last day of each month of the respective fiscal year, the Chief Fiscal Officer of the State shall certify to the Treasurer of State an amount based on one-twelfth (1/12) of the annual allocation determined in subsection (a) of this section for transfer to the fund.
(2) The Treasurer of State shall make such transfer after making the deductions required from the net general revenues as set out in § 19-5-202(b)(2)(B)(i).
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-202. General 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 “General Revenue Fund Account” of the State Apportionment Fund to which all gross general revenues are to be credited upon receipt of them by the Treasurer of State, there to be distributed as provided in this section. The Treasurer of State, with the approval of the Auditor of State and the Chief Fiscal Officer of the State, shall prescribe the procedures and forms required to be used by all governmental units depositing funds into the State Treasury.
(b) At the close of business at 12:00 noon on the last working day of each month, the Treasurer of State shall make the following distributions of the gross general revenues in the General Revenue Fund 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 general revenues received during each month, the Treasurer of State shall deduct the amounts represented by claims, taxes erroneously paid, uncollected checks, and advance transfers made to the Individual Income Tax Withholding Fund, Corporate Income Tax Withholding Fund, and Home Owners Tax Relief Fund from each applicable revenue received during that month and other advance transfers and shall keep a record for accounting purposes. Advance transfers made during the month to funds or fund accounts from which there are no applicable revenue sources shall be made from gross general revenues received during the month. The remaining revenue in the General Revenue Fund Account shall be designated as net general revenue; and
(2)(A) In the event the Budget Stabi
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-202
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 19-5-202. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-6-201. General revenues enumerated.
The general revenues of the state, as provided by law, shall consist of the following, as described by their commonly known titles:
(1) Sales taxes, as enacted by Acts 1941, No. 386, known as the “Arkansas Gross Receipts Act of 1941”, and all laws supplemental or amendatory thereto, § 26-52-101 et seq.;
(2) Use taxes as enacted by Acts 1949, No. 487, known as the “Arkansas Compensating Tax Act of 1949”, Acts 1971, No. 222, and all laws supplemental or amendatory thereto, § 26-53-101 et seq.;
(3) Corporation franchise taxes, as enacted by Acts 1979, No. 889, known as the “Arkansas Corporate Franchise Tax Act of 1979”, and all laws amendatory thereto, § 26-54-101 et seq.;
(4) Corporation income taxes, as enacted by Acts 1929, No. 118, known as the “Income Tax Act of 1929”, Acts 1941, No. 129, and all laws amendatory thereto, § 26-51-101 et seq., with the exception of those additional corporate income taxes set aside as special revenue by § 26-51-205(c)(2);
(5) Individual income taxes, as enacted by Acts 1929, No. 118, known as the “Income Tax Act of 1929”, and all laws amendatory thereto, § 26-51-101 et seq.;
(6) Cigarette taxes and permits and other tobacco products taxes and permits, as enacted by Acts 1977, No. 546, known as the “Arkansas Tobacco Products Tax Act of 1977”, and all laws amendatory thereto, § 26-57-201 et seq.;
(7) Escheat of unclaimed property, as enacted by Acts 1999, No. 850, known as the “Unclaimed Property Act”, and all laws amendatory thereto, § 18-28-201 et seq.;
(8) [Repealed.]
(9) Seventy-five percent (75%) of all severance taxes, with the exception of the taxes paid to sever timber and timber products, the severance tax collected on natural gas, and those portions of severance taxes desi
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-6-201
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 19-6-201. This identifies an authority to review, not proof of applicability.