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Arkansas Code of 1987 (2024)
Title 19 - PUBLIC FINANCE (§§ 19-1-201 — 19)
Chapter 5 - REVENUE STABILIZATION LAW (§§ 19-5-101 — 19-5-1286)
Subchapter 11 - TRUST FUNDS CONTINUED (§§ 19-5-1101 — 19-5-1160)
Section 19-5-1126 - Arkansas Public Transit Trust Fund
Universal Citation:
AR Code § 19-5-1126 (2024)
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- (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 fund to be known as the "Arkansas Public Transit Trust Fund".
- (b) The fund shall consist of seventy-five percent (75%) of the net revenues derived from the additional rental vehicle tax imposed by § 26-63-302.
- (c) The fund shall be used by the Arkansas Department of Transportation for:
- (1) The purpose of acquiring federal matching funds for the purchase of public transportation vehicles;
- (2) Public transit equipment or facilities; and
- (3) The operation of the United States Department of Transportation Federal Transit Administration assistance programs.
Amended by Act 2017, No. 707,§ 52, eff. 8/1/2017.
Acts 2003 (1st Ex. Sess.), No. 55, § 18; 2007, No. 182, § 16; 2007, No. 1032, § 29; 2007, No. 1201, § 29.
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