AR HB2026

Increases the distillate special fuel excise tax from 8.5 cents to 9.5 cents per gallon, with an additional 1 cent per gallon tax remaining in place.

Directs the first $4,000,000 of distillate fuel tax revenue collected annually to be deposited as general revenues: 75% to General Revenue Fund, 14.6% to Educational Adequacy Fund, 8.3% to Property Tax Relief Trust Fund, and 2.1% to Conservation Tax Fund.

Modifies the definition of "semitrailer" in sales and use tax law to apply only to vehicles drawn by truck tractors (removing the reference to Class Six or Seven trucks with International Registration Plan designation).

Repeals Arkansas Code § 19-6-201(68) regarding the first $4,000,000 of the 8.5-cent distillate fuel tax and removes it from enumerated general revenues.

Effective date is the first day of the calendar quarter following enactment of the bill.