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Arkansas Code Title 27. Transportation § 27-24-1207. Disposition of fee--List

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

(a) Except for African American fraternities and sororities, the Revenue Division of the Department of Finance and Administration shall remit the design-use contribution fee required under § 27-24-1206(b)(2) monthly to the endowment funds of the participating institutions of higher education in the State of Arkansas that have a chapter of the African American fraternity or sorority on their campus on a pro-rata basis to be used for scholarships as provided in this subchapter.

(b)(1) The division shall remit the design-use contribution fee collected for special license plates issued to African American fraternities and sororities monthly as provided under subdivision (b)(2) of this section to the endowment funds of the following historically African American institutions of higher education in the State of Arkansas:

(A) The University of Arkansas at Pine Bluff;

(B) Philander Smith College;

(C) Arkansas Baptist College; and

(D) Shorter College.

(2) The historically African American institutions of higher education shall share in the funds in the following proportion:

(A) The University of Arkansas at Pine Bluff, forty percent (40%);

(B) Philander Smith College, twenty-five percent (25%);

(C) Arkansas Baptist College, twenty percent (20%); and

(D) Shorter College, fifteen percent (15%).

(c) The Department of Finance and Administration shall also provide to each participating African American fraternity or sorority a list of persons who have paid for the special African American fraternity or sorority license plates during the specified period.

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Cite this article: FindLaw.com - Arkansas Code Title 27. Transportation § 27-24-1207. Disposition of fee--List - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-27-transportation/ar-code-sect-27-24-1207/

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