AR SB916

Amends Arkansas Code § 26-52-107 to create conditions under which sales and use taxes collected from out-of-state sellers are deposited to the State Highway and Transportation Department Fund instead of general revenue.

Director of Finance and Administration must determine that federal law authorizes collection of sales and use taxes from sellers without physical presence in Arkansas and that such sellers make taxable sales to state purchasers.

If food and food ingredients are taxed at zero percent when conditions are met, all net general revenues from out-of-state seller taxes (after required deductions) are deposited to the Highway and Transportation Department Fund.

If food and food ingredients are taxed above zero percent when conditions are met, $70,000,000 of net general revenues remains as general revenue each fiscal year, with the remainder deposited to the Highway and Transportation Department Fund.

Chief Fiscal Officer must certify monthly to the Treasurer of State the amount of net general revenues attributable to collection of sales and use taxes from sellers without physical presence in the state.