The bill amends the law regarding the transfer of remaining general revenues in Arkansas. Specifically, it modifies Arkansas Code 19-5-406(c) to establish a new distribution framework for any additional revenues available after prior distributions. The amended language specifies that ten percent (10%) of these additional revenues will be allocated to the Municipal Aid Fund, which will be distributed according to the provisions outlined in 19-5-601.

Furthermore, the bill stipulates that the remaining amount, after the allocation to the Municipal Aid Fund, will be transferred to the General Revenue Allotment Reserve Fund on the last business day of each calendar month. This change aims to ensure a more structured approach to the distribution of remaining general revenues, enhancing support for municipal aid while also maintaining a reserve for general revenue purposes.

Statutes affected:
SB 398: 19-5-406(c)