AR SB342

Amends Arkansas Code § 22-8-206(d) to clarify that fund transfers for state vehicle purchases must include applicable state and local sales and use taxes, in addition to vehicle prices.

Establishes that when funds are held in depositories other than the State Treasury, the administrative head of the affected state agency must issue a check to deposit those funds into the Motor Vehicle Acquisition Revolving Fund as a nonrevenue receipt.

Modifies Arkansas Code § 22-8-206(e) to authorize the Chief Fiscal Officer to transfer appropriations from the Motor Vehicle Acquisition Revolving Fund to state agencies, including amounts for state and local sales and use taxes on vehicle purchases.

Declares an emergency due to potential funding shortages from the failure to include sales and use tax provisions in the Automobile and Pickup Truck Acquisition Act.

Provides the bill becomes effective upon gubernatorial approval, expiration of the veto period, or legislative veto override.