AR HB1821

Amends Arkansas Code § 19-5-305(b)(6) to allocate 25% of additional rental vehicle tax revenues up to the amount provided under § 26-63-302 exclusively for teacher salaries in the Public School Fund.

Modifies Arkansas Code § 19-5-1126(b) to specify that the Arkansas Public Transit Trust Fund shall consist of 75% of the designated portion of net revenues derived from the additional rental vehicle tax.

Restructures Arkansas Code § 26-63-302(c)(2) to deposit 75% of net rental vehicle tax revenues into the Arkansas Public Transit Trust Fund for acquiring federal matching funds and purchasing public transportation vehicles and equipment.

Allocates the first $1,344,957 of the remaining 25% of revenues annually to the Division of Elementary and Secondary Education Public School Fund Account for teacher salaries.

Directs any remaining revenues after the teacher salary allocation to be deposited into the Arkansas Public Transit Trust Fund.