§ 2-35-405 - Disposition of funds. - Arkansas Statutes

2-35-405. Disposition of funds.

(a) The Director of the Department of Finance and Administration shall deposit in the State Treasury all funds collected by him or her pursuant to this subchapter and the federal Beef Promotion and Research Act of 1985 and the federal administrative orders and rules issued pursuant to that act. Beginning with funds collected by him or her on and after the first day of the month next following January 22, 1987, the Treasurer of State shall:

(1) Credit to the National Beef Promotion Account fifty cents (50cent(s)) of each one dollar ($1.00) per head assessment collected;

(2) Deduct three percent (3%) of the remaining funds for credit to the Constitutional Officers Fund and the State Central Services Fund; and

(3) Credit the remainder of these funds to the State Beef Promotion Account.

(b) (1) Funds credited to the National Beef Promotion Account shall be remitted by the Arkansas Beef Council to the Cattlemen's Beef Promotion and Research Board established in the federal Beef Promotion and Research Act of 1985 in the manner prescribed in that act and in administrative orders and rules issued pursuant to that act.

(2) Funds credited to the State Beef Promotion Account shall be used in such manner as the Arkansas Beef Council deems appropriate for Arkansas beef promotion and research and for the operation and maintenance of the Arkansas Beef Council's office and the payment of expenses of the council members in accordance with 25-16-901 et seq.