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Arkansas Code Title 19. Public Finance § 19-6-493. Public School Facilities Fund

Current as of March 28, 2024 | Updated by FindLaw Staff

(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a special revenue fund to be known as the “Public School Facilities Fund”.

(b)(1) All moneys collected under Acts 2003 (2nd Ex. Sess.), No. 70, shall be deposited as follows:

(A) If designated in § 19-6-201 as general revenues, the moneys shall be deposited into the State Treasury to the credit of the fund as special revenues; and

(B) If designated in § 19-6-301 as special revenues, the moneys shall be deposited into the State Treasury as special revenues to be distributed as provided by law.

(2) The distribution of municipal and county taxes collected under the tax amnesty program created by Acts 2003 (2nd Ex. Sess.), No. 70, is not affected by this section.

(3) The fund also shall consist of any other revenues as may be authorized by law.

(c) The fund shall be used for improvements, construction, or repair of public school facilities.

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Cite this article: FindLaw.com - Arkansas Code Title 19. Public Finance § 19-6-493. Public School Facilities Fund - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-19-public-finance/ar-code-sect-19-6-493/

Read this complete Arkansas Code Title 19. Public Finance § 19-6-493. Public School Facilities Fund on Westlaw

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