Stricken language would be deleted from and underlined language would be added to present law.
1 State of Arkansas
2 94th General Assembly A Bill
3 Regular Session, 2023 SENATE BILL 398
4
5 By: Senator D. Sullivan
6 By: Representative Milligan
7
8 For An Act To Be Entitled
9 AN ACT TO AMEND THE LAW CONCERNING THE TRANSFER OF
10 REMAINING GENERAL REVENUES; TO TRANSFER A PORTION OF
11 REMAINING GENERAL REVENUES TO THE MUNICIPAL AID FUND;
12 AND FOR OTHER PURPOSES.
13
14
15 Subtitle
16 TO AMEND THE LAW CONCERNING THE TRANSFER
17 OF REMAINING GENERAL REVENUES; AND TO
18 TRANSFER A PORTION OF REMAINING GENERAL
19 REVENUES TO THE MUNICIPAL AID FUND.
20
21
22 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
23
24 SECTION 1. Arkansas Code § 19-5-406(c), concerning the transfer of
25 remaining general revenues, is amended to read as follows:
26 (c) Any additional revenues available after the distributions in
27 subsection (b) of this section shall be transferred as follows: on
28 (1) Ten percent (10%) shall be transferred to the Municipal Aid
29 Fund to be distributed as provided in § 19-5-601 for general revenues; and
30 (2) On the last day of business in each calendar month, the
31 amount remaining after the distribution in subdivision (c)(1) of this section
32 shall be transferred to the General Revenue Allotment Reserve Fund, there to
33 be used for the respective purposes as provided by law.
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*JLL243* 03/09/2023 12:40:31 PM JLL243
Statutes affected: SB 398: 19-5-406(c)