AR SB285

Creates the Arkansas River Navigation System Fund as a miscellaneous state fund to support development, improvement, and expansion of river transportation resources within the McClellan-Kerr Arkansas River Navigation System in Arkansas.

Dedicates ad valorem taxes and penalties collected from water transportation companies that exceed $2,500,000 annually to the new fund, after first crediting the initial $2,500,000 to the existing Arkansas Port, Intermodal, and Waterway Development Grant Program Fund.

Authorizes the Arkansas Waterways Commission to use fund revenues exclusively for developing, improving, and expanding river transportation resources in the state's portion of the McClellan-Kerr system.

Allows the fund to accept grants from individuals and federal government agencies, carry forward annual balances, and receive other funds authorized by law.