AR SB1091

Creates the "Arkansas Port, Intermodal, and Waterway Development Grant Program Fund" as a miscellaneous fund in the State Treasury to receive revenues and grants for port and intermodal development.

Directs the Arkansas Waterways Commission to use the fund to provide grants to port authorities and intermodal authorities under the Arkansas Port, Intermodal, and Waterway Development Grant Program.

Redirects ad valorem taxes and penalties collected from water transportation companies in excess of $2,500,000 annually to the new grant program fund instead of the general Ad Valorem Tax Fund.

Requires any unexpended balance in the fund at the end of each fiscal year to be carried forward to the next fiscal year for the same purposes.

Allows the fund to consist of redirected water transportation company taxes, grants from any person or federal government agency, and any other funds authorized by law.