§ 26-57-1005 - Disposition of revenues. - Arkansas Statutes

26-57-1005. Disposition of revenues.

(a) The revenues derived from 26-57-1002(d)(1) shall be general revenues and shall be deposited into the State Treasury in the same manner as the Arkansas gross receipts tax under the Arkansas Gross Receipts Act of 1941, 26-52-101 et seq.

(b) All revenues derived from 26-57-1002(d)(2) shall be deposited by the Treasurer of State into the Identification Pending Trust Fund for Local Sales and Use Taxes in accordance with the provisions of 26-74-221 and 26-75-223, and all revenues deposited into that fund shall be distributed to the cities and counties of this state in accordance with the provisions of 26-74-221(a)(2)(C)(ii) and 26-75-223(a)(2)(C)(ii).