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AR HB2081
Bill
Status
4/27/2011
Primary Sponsor
Josh Johnston
Click for details
AI Summary
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Creates the "Highway Severance Tax Distribution Fund" as a special revenue fund on the books of the Treasurer of State, Auditor of State, and Chief Fiscal Officer
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Deposits 95% of severance tax collected on natural gas under § 26-58-111(5) into the fund with separate accounts for each county based on where the funds were collected
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Requires the Chief Fiscal Officer to determine monthly revenue collected from each county and direct the Treasurer to deposit funds into each county's account on a monthly basis
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Mandates the Arkansas State Highway and Transportation Department use funds exclusively from each county's account to repair and maintain highways, roads, and streets damaged by oil and gas production in that county
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Amends the definition of "highway revenues" to include 95% of natural gas severance tax collected
Legislative Description
To Create The Highway Severance Tax Distribution Fund To Ensure That The Affected Counties Receive Adequate Funding To Repair Highways, Roads, And Streets Damaged By Oil And Gas Production.
Last Action
House Died in House Committee at Sine Die adjournment.
4/27/2011