Ark. Code Ann. § 15-5-422 (2026)
Moneys for Correction Facilities Construction Fund
The Arkansas Development Finance Authority is authorized to accept moneys for the Correction Facilities Construction Fund from any source, including, but not limited to, allocations from the Treasurer of State as provided in this section.
History. Acts 1988 (3rd Ex. Sess.), No. 31, § 2; 2013, No. 1149, § 4.
A.C.R.C. Notes. Acts 1988 (3rd Ex. Sess.), No. 31, § 5, provided that the Arkansas Development Finance Authority shall make every effort to study any and all available means of financing to implement this section, specifically including the financing mechanisms of the various state retirement systems.
Amendments. The 2013 amendment repealed former (b).
Cross References. Correction Facilities Construction Fund, § 15-5-213.
Subchapter 5 — Arkansas Private Activity Bond Allocation Act of 1985
A.C.R.C. Notes. Acts 2001, No. 1044, § 7, provided:
“This act is intended to be retroactive to January 1, 2001 for the purposes of conforming Arkansas law to changes in the federal Internal Revenue Code.”
15-5-501 — 15-5-511. [Repealed.]
Publisher's Notes. This subchapter concerning the Arkansas Private Activity Bond Allocation Act of 1985 was repealed by Acts 2001, No. 1044, § 8. The subchapter was derived from the following sources:
15-5-501. Acts 1985, No. 873, § 1; A.S.A. 1947, § 13-1625.
15-5-502. Acts 1985, No. 873, § 2; A.S.A. 1947, § 13-1626.
15-5-503. Acts 1985, No. 873, § 11; A.S.A. 1947, § 13-1635.
15-5-504. Acts 1985, No. 873, § 10; A.S.A. 1947, § 13-1634.
15-5-505. Acts 1985, No. 873, § 3; A.S.A. 1947, § 13-1627.
15-5-506. Acts 1985, No. 873, § 4; A.S.A. 1947, § 13-1628.
15-5-507. Acts 1985, No. 873, § 5; A.S.A. 1947, § 13-1629.
15-5-508. Acts 1985, No. 873, § 6; A.S.A. 1947, § 13-1630.
15-5-509. Acts 1985, No. 873, § 7; A.S.A. 1947, § 13-1631.
15-5-510. Acts 1985, No. 873, § 8; A.S.A. 1947, § 13-1632.
15-5-511. Acts 1985, No. 873, § 9; A.S.A. 1947, § 13-1633.
Subchapter 6 — Allocation of State Ceiling
A.C.R.C. Notes. Acts 2001, No. 1044, § 7, provided:
“This act is intended to be retroactive to January 1, 2001 for the purposes of conforming Arkansas law to changes in the federal Internal Revenue Code.”
Publisher's Notes. Acts 1987, No. 900, § 9, provided:
“It is the intention of this Act to amend such portions of Act 1062 of 1985, as amended, as are specifically mentioned herein; the remainder of said Act 1062 shall remain in full force and effect as enacted until the same shall be further amended or repealed.”
Cross References. Primary administration of federal allocations of private activity and governmental volume cap, § 15-5-318.
Effective Dates. Acts 1987, No. 900, § 10: Apr. 13, 1987. Emergency clause provided: “It is hereby found and determined by the General Assembly (1) that there is an urgent need to provide financial assistance to Arkansas educational institutions and that the Arkansas Development Finance Authority possesses the expertise and resources to provide such assistance; (2) that the power to create nonprofit corporations will greatly assist the Arkansas Development Finance Authority in carrying out its duties under this Act; (3) that there is an urgent need to modify the prior notification and other requirements of Section 6.02 of Act 1062 of 1985, as amended, in order that the Arkansas Development Finance Authority may, when necessary, move expeditiously to take advantage of favorable credit conditions in issuing bonds to provide pooled or consolidated financings for certain projects and activities; and (4) in certain cases, the Arkansas Development Finance Authority may benefit by issuing bonds denominated in currencies other than the currency of the United States of America. Therefore, an emergency is hereby declared to exist and this Act being necessary for the preservation of the public peace, health and safety shall be in full force and effect from and after its passage and approval.”
Acts 2001, No. 1044, § 9: Mar. 22, 2001. Emergency clause provided: “It is found and determined by the General Assembly that there is urgent need to conform the procedures of the allocation of the state private activity volume cap to comport with recent changes to the federal Internal Revenue Code; that the changes are necessary to ensure that the State of Arkansas may use all the private activity volume cap to which it would be entitled in calendar year 2001 and in succeeding years; and that it is necessary that this act have immediate effect to avoid any impairment to the state's private activity volume cap. Therefore, an emergency is declared to exist and this act being immediately necessary for the preservation of the public peace, health and safety shall become effective on the date of its approval by the Governor. If the bill is neither approved nor vetoed by the Governor, it shall become effective on the expiration of the period of time during which the Governor may veto the bill. If the bill is vetoed by the Governor and the veto is overridden, it shall become effective on the date the last house overrides the veto.”