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AR SB438
Bill
Status
5/17/2013
Primary Sponsor
Larry Teague
Click for details
AI Summary
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Eliminates the designation of the first $4,000,000 of the 8.5¢ tax on distillate special fuels as general revenues by repealing Arkansas Code § 19-6-201(68)
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Reclassifies the first $4,000,000 of distillate special fuel tax as special revenues to be distributed under the Arkansas Highway Revenue Distribution Law instead of as general revenues
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Removes the requirement that the Chief Fiscal Officer deposit the first $4,000,000 in distillate fuel taxes to various funds (General Revenue Fund Account, Educational Adequacy Fund, Property Tax Relief Trust Fund, and Conservation Tax Fund) by repealing Arkansas Code § 26-56-201(g)
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Updates references in the Property Tax Relief Trust Fund and Educational Adequacy Fund to remove citations to the repealed revenue allocation provisions
Legislative Description
Concerning The Revenues Derived From The Tax On Distillate Special Fuels; To Eliminate The Designation Of Certain Tax Revenues Derived From Sales Of Distillate Special Fuels As General Revenues.
Last Action
Sine Die adjournment
5/17/2013