(a) (1) Fifty percent (50%) of the fees collected under § 27-14-602(b)(1) and (2) and one hundred percent (100%) of the fees collected under § 27-14-602(b)(3)-(6) shall be:
(A) Deposited into the 1995 New Revenue Division Building Fund as cash funds; and
(B) Used for the repayment of bonds that may be issued by or for the benefit of the Arkansas Revenue Department Building Commission under the 1995 New Revenue Division Building Act.
(2) Fifty percent (50%) of the fees collected under § 27-14-602(b)(1) and (2) shall be:
(A) Deposited into the State Treasury as trust funds and credited to the State Police Retirement Fund; and
(B) Used for the State Police Retirement System for the Department of Arkansas State Police.
(3) At least nine hundred twenty thousand dollars ($920,000) of the fees collected under subdivision (a)(1) of this section shall first be distributed to the 1995 New Revenue Division Building Fund and the Arkansas Revenue Department Building Commission under the 1995 New Revenue Division Building Act before distribution of the fees as provided under subdivision (a)(2) of this section.
(b) All fees collected by the circuit clerk and recorder as required by this chapter shall not be affected by the provisions of this section.
Section: Previous 27-14-602 27-14-603 27-14-604 27-14-605 27-14-606 27-14-607 27-14-608 27-14-609 27-14-610 27-14-611 27-14-612 NextLast modified: November 15, 2016