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AR SB554
Bill
Status
4/6/2015
Primary Sponsor
David Sanders
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AI Summary
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The first 4.5 mills of gas assessment fees levied each fiscal year until July 1, 2017, shall be deposited as general revenue instead of to the Oil and Gas Commission Fund.
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Remaining gas assessment fees in excess of 4.5 mills shall continue to be deposited to the Oil and Gas Commission Fund to pay for administration of oil and gas laws.
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Added gas assessment fees (first 4.5 mills) to the enumeration of general revenues under Arkansas Code § 19-6-201.
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Modified the enumeration of special revenues to specify that only gas assessments in excess of 4.5 mills are classified as special revenue.
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Declared an emergency effective July 1, 2015, finding that increased general revenue funding is necessary for preservation of public peace, health, and safety.
Legislative Description
To Amend The Laws Concerning The Collection, Deposit, And Use Of Gas Assessment Fees; To Designate Certain Gas Assessment Fees As General Revenue; And To Declare An Emergency.
Last Action
Notification that SB554 is now Act 1046
4/6/2015