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AR HB1024
Bill
Status
4/24/2019
Primary Sponsor
Johnny Rye
Click for details
AI Summary
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Designates the first $150,000,000 of sales and use taxes collected on new and used motor vehicles, trailers, or semitrailers required to be licensed in Arkansas as special revenues to be distributed under the Arkansas Highway Revenue Distribution Law.
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Classifies any taxes, interest, penalties, and costs on motor vehicle sales exceeding $150,000,000 as general revenues to be deposited into the State Apportionment Fund.
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Clarifies that all taxes, interest, penalties, and costs collected by sellers without a physical presence in the state are general revenues to be deposited into the State Apportionment Fund.
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Amends Arkansas Code § 19-6-301 to add motor vehicle tax revenues to the enumeration of special revenues.
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Amends Arkansas Code § 26-52-107 to restructure the disposition of sales and use tax revenues by category.
Legislative Description
To Designate The Revenues Derived From Taxes Collected On The Sales Of New And Used Motor Vehicles As Special Revenues; And To Clarify That The Revenues Derived From The Taxes Collected By Remote Sellers Are General Revenues.
Last Action
Died on House Calendar at Sine Die Adjournment
4/24/2019