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AR HB1889
Bill
Status
3/20/2019
Primary Sponsor
Clint Penzo
Click for details
AI Summary
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Creates a sales and use tax exemption for construction materials used by the Arkansas Department of Transportation in public construction projects, excluding equipment, tools, and motor vehicle fuel.
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Dedicates an increasing percentage of sales and use tax collected on new and used motor vehicle sales to highway funding, phased from 10% beginning September 1, 2019 to 100% by September 1, 2028.
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Distributes dedicated motor vehicle tax revenue as: 70% to State Highway and Transportation Department Fund, 15% to County Aid Fund, and 15% to Municipal Aid Fund for construction, reconstruction, and maintenance of roads and bridges.
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Amends Arkansas Highway Revenue Distribution Law to reorder fund transfers, giving priority to gasoline tax refunds before distributing remaining highway revenues.
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Declares an emergency and establishes an effective date of July 1, 2019, with the 10-year phase-in designed to minimize impact on general revenue.
Legislative Description
To Provide Funding For The Maintenance, Repair, And Construction Of Highways, Roads, Streets, And Bridges In The State Through Changes In The Tax Laws And Motor Vehicles Laws; And To Declare An Emergency.
Last Action
Recommended for study in the Interim by Joint Interim Committee on REVENUE & TAXATION- HOUSE
4/10/2019