Loading chat...

AR HB1436

Bill

Official Source

Status

Passed

3/18/2015

Primary Sponsor

Grant Hodges

Click for details

Origin

House of Representatives

90th General Assembly (2015 Regular)

AI Summary

  • Designates the first $675,000 annually from the 5% natural gas severance tax as general revenues instead of being distributed through the new fund
  • Creates the "Road and Bridge Repair, Maintenance, and Grants Fund" as a special revenue fund to receive the remainder of the 5% natural gas severance tax after the $675,000 general revenue allocation
  • Directs the new fund to provide grants exclusively to counties for damages from trucks and heavy machinery used in natural gas extraction, distributed on a pro-rata basis according to the number of active unconventional natural gas wells in each county
  • Maintains the existing 95% distribution of natural gas severance tax according to the Arkansas Highway Revenue Distribution Law
  • Declares an emergency effective July 1, 2015, citing the need for increased funding to repair and maintain Arkansas bridges and roads

Legislative Description

To Amend The Distribution And Use Of Severance Taxes; To Create The Road And Bridge Repair, Maintenance, And Grants Fund; And To Declare An Emergency.

Last Action

Notification that HB1436 is now Act 536

3/18/2015

Committee Referrals

Revenue & Taxation3/9/2015
Revenue and Taxation2/24/2015

Full Bill Text

No bill text available