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Current as of March 28, 2024 | Updated by FindLaw Staff
(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 “Division of Workforce Services Special Fund”.
(b)(1) The fund shall consist of unemployment compensation contribution interest and penalty payments collected under §§ 11-10-716 -- 11-10-723 and interest and penalty payments on overpayments collected under § 11-10-532.
(2) The fund shall be used for refunds of interest and penalties erroneously paid and other additional purposes as determined by the Director of the Division of Workforce Services under §§ 11-10-532 and 11-10-716 -- 11-10-723 to be necessary to the proper administration of the following:
(A) The Division of Workforce Services Law, § 11-10-101 et seq.;
(B) The Arkansas Workforce Innovation and Opportunity Act, § 15-4-3701 et seq., or its successor;
(C) The Temporary Assistance for Needy Families Program, § 20-76-101 et seq., or its successor;
(D) The Arkansas Health and Opportunity for Me Act of 2021, § 23-61-1001 et seq., or its successor; and
(E) Any other programs transferred under the direction and supervision of the Division of Workforce Services, by either executive order or legislative enactment, or their successor programs.
(c)(1) The fund shall include a subaccount for penalties collected under § 11-10-532(a)(3) that are in excess of fifteen percent (15%) of the overpayment.
(2) The subaccount under subdivision (c)(1) of this section shall be used exclusively for activities to protect the integrity of the unemployment insurance program that are necessary to the proper administration of the Division of Workforce Services Law, § 11-10-101 et seq., as determined by the director.
(d) The director shall report to the Legislative Council on a quarterly basis on all uses of the fund and the subaccount.
Cite this article: FindLaw.com - Arkansas Code Title 19. Public Finance § 19-5-984. Division of Workforce Services Special Fund - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-19-public-finance/ar-code-sect-19-5-984/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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