Funds set aside for the purchase or commission of art through the Arkansas Public Art Program shall be divided as follows:
(1) (A) Eight percent (8%) of the funds drawn from the method of finance shall be deposited in the State Treasury as special revenues, and the Treasurer of State shall credit them to a fund to be known as the Arkansas Public Art Program Fund.
(B) The fund shall be administered by the Arkansas Arts Council and shall be used for the administration of the Arkansas Public Art Program;
(2) Not more than eighty percent (80%) of the funds shall be used to purchase or commission art for the building to be constructed or renovated;
(3) Not less than twelve percent (12%) of the funds shall be used for the purchase or commission of art for other state buildings; and
(4) The exact percentages provided for in subdivisions (2) and (3) of this section to be used shall be determined by the Arkansas Public Art Advisory Board.
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