(a) The Arkansas Department of Transportation shall distribute the first five hundred twenty-five thousand dollars ($525,000) of interest income received under § 27-70-204 each year from the State Highway and Transportation Department Fund. The moneys shall be: (1) Equally distributed to each authority; (2) Deposited into a bank as the authority may direct under § 14-143-124(a)(1) ; and (3) Used for the purposes and the implementation of the powers authorized under this chapter. (b) Moneys remaining in the bank designated by the authority under subdivision (a)(2) of this section shall carry forward and be made available for the purposes stated in subdivision (a)(3) of this section in the next fiscal year. Added by Act 2017, No. 705,§ 1, eff. 8/1/2017. (a) The Arkansas Department of Transportation shall distribute the first five hundred twenty-five thousand dollars ($525,000) of interest income received under § 27-70-204 each year from the State Highway and Transportation Department Fund. The moneys shall be: (1) Equally distributed to each authority; (2) Deposited into a bank as the authority may direct under § 14-143-124(a)(1) ; and (3) Used for the purposes and the implementation of the powers authorized under this chapter. (b) Moneys remaining in the bank designated by the authority under subdivision (a)(2) of this section shall carry forward and be made available for the purposes stated in subdivision (a)(3) of this section in the next fiscal year. Added by Act 2017, No. 705,§ 1, eff. 8/1/2017. (a) The Arkansas Department of Transportation shall distribute the first five hundred twenty-five thousand dollars ($525,000) of interest income received under § 27-70-204 each year from the State Highway and Transportation Department Fund. The moneys shall be: (1) Equally distributed to each authority; (2) Deposited into a bank as the authority may direct under § 14-143-124(a)(1) ; and (3) Used for the purposes and the implementation of the powers authorized under this chapter. (b) Moneys remaining in the bank designated by the authority under subdivision (a)(2) of this section shall carry forward and be made available for the purposes stated in subdivision (a)(3) of this section in the next fiscal year. Added by Act 2017, No. 705,§ 1, eff. 8/1/2017. (a) The Arkansas Department of Transportation shall distribute the first five hundred twenty-five thousand dollars ($525,000) of interest income received under § 27-70-204 each year from the State Highway and Transportation Department Fund. The moneys shall be: (1) Equally distributed to each authority; (2) Deposited into a bank as the authority may direct under § 14-143-124(a)(1) ; and (3) Used for the purposes and the implementation of the powers authorized under this chapter. (1) Equally distributed to each authority; (2) Deposited into a bank as the authority may direct under § 14-143-124(a)(1) ; and (3) Used for the purposes and the implementation of the powers authorized under this chapter. (b) Moneys remaining in the bank designated by the authority under subdivision (a)(2) of this section shall carry forward and be made available for the purposes stated in subdivision (a)(3) of this section in the next fiscal year.
‹ Prev All Arkansas sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.