Arkansas Code Title 19. Public Finance § 19-5-957. Identification Pending Trust Fund for Local Sales and Use Taxes

(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Identification Pending Trust Fund for Local Sales and Use Taxes”.

(b) The Identification Pending Trust Fund for Local Sales and Use Taxes shall consist of money reported as local sales and use taxes collected in local taxing jurisdictions that are not immediately identifiable and money collected in local jurisdictions that have no tax, and the money in the Identification Pending Trust Fund for Local Sales and Use Taxes is to be used for transfers to the Local Sales and Use Tax Trust Fund when a local tax jurisdiction is identified for money and for transfers to general revenues when the total amount in this fund exceeds fifty thousand dollars ($50,000) as stated in §§ 26-74-221, 26-74-317, and 26-82-113, and shall also consist of vending devices sales taxes, § 26-57-1002(d)(2), and that portion of vending devices decal fees and penalties, §§ 26-57-1206 and 26-57-1208(b)(2), there to be distributed to cities and counties under §§ 26-74-221(a)(2)(C)(ii), 26-75-223(a)(2)(C)(ii), and 26-82-113(a)(2)(A)(ii).