Ark. Code Ann. § 26-52-107 (2020)
Disposition of taxes, interest, and penalties
All taxes, interest, penalties, and costs received by the Secretary of the Department of Finance and Administration under the provisions of this chapter shall be general revenues and shall be deposited into the State Treasury to the credit of the State Apportionment Fund. The Treasurer of State shall allocate and transfer the same to the various State Treasury funds participating in general revenues in the respective proportions to each as provided by, and to be used for the respective purposes set forth in, the Revenue Stabilization Law, § 19-5-101 et seq.
History. Acts 1941, No. 386, § 18, as added by Acts 1953, No. 118, § 32(A); A.S.A. 1947, § 84-1918; Acts 2019, No. 910, § 3820.
Amendments. The 2019 amendment substituted “Secretary of the Department of Finance and Administration” for “Director of the Department of Finance and Administration”.
Case Notes
Cities and Counties.
Cities and counties were not beneficiaries of funds arising from the sales tax until made to share by Acts 1943, No. 187, and since the act was not in effect until June 10, prior to the beginning of a new fiscal year July 1, 1943, cities and counties could participate only in money paid by the taxpayer during the last 21 days of June. Page v. Alexander, 206 Ark. 479, 177 S.W.2d 415 (1943) (decision under prior law).