AR SB453

Creates the Arkansas River Navigation System Fund as a miscellaneous state fund consisting of taxes and penalties from water transportation companies, grants, and other authorized funds.

Allocates $50,000 annually to the Arkansas Waterways Commission from water transportation company taxes and penalties once collections reach at least $2,500,000 per calendar year.

Dedicates 70% of taxes and penalties collected in excess of $2,550,000 each calendar year to the Arkansas River Navigation System Fund for developing and expanding river transportation resources within the McClellan-Kerr Arkansas River Navigation System.

Allocates 30% of taxes and penalties collected in excess of $2,550,000 annually to the Arkansas Port, Intermodal, and Waterway Development Grant Program Fund under Arkansas Code § 15-23-205.

Bill was approved on March 27, 2019, and became Act 561 of the 2019 Regular Session.