§ 26-58-113 - Additional tax on stone and crushed stone -- Deposit and allocation of funds. - Arkansas Statutes

26-58-113. Additional tax on stone and crushed stone -- Deposit and allocation of funds.

(a) There is levied and there shall be collected from each producer of the following natural resources in this state an additional privilege or license tax to be known as an additional severance tax.

(b) The additional severance tax is to be paid to the Director of the Department of Finance and Administration.

(c) The additional severance tax on stone and crushed stone, including but without limitation thereto, chert, granite, slate, novaculite and limestone, excluding limestone used for agricultural purposes, construction sand, gravel, clay, chalk, shale, and marl, is to be predicated upon the quantity severed at the rate of three cents (3cent(s)) per ton.

(d) The tax levied by this section shall be in addition to the severance tax levied by 26-58-107.

(e) (1) All taxes, penalties, and costs collected by the director under the provisions of this section shall be deposited into the State Treasury to the credit of the State Apportionment Fund.

(2) The Treasurer of State on or before the fifth of the month next following the month during which such funds shall have been received by him or her shall allocate the same in the manner provided in this subdivision (e)(2):

(A) Three percent (3%) of the amount thereof to the General Revenue Fund to be used for defraying the necessary expenses of the state government; and

(B) Ninety-seven percent (97%) of the amount thereof, as follows:

(i) (a) Twenty-five percent (25%) of such amount of the severance taxes, penalties, and costs, except those on timber and timber products, shall be special revenues and shall be allocated to the County Aid Fund.

(b) On or before the tenth of the month following the end of each calendar quarter, the Treasurer of State shall remit by state warrants to the various county treasurers all such funds received by the Treasurer of State during such quarterly period and transferred to the County Aid Fund in the proportions thereof as between the respective counties that, as certified by the director to the Treasurer of State, the total severance tax produced from each such county bears to the total of such taxes produced from all counties.

(c) Upon receipt of any such taxes, each county treasurer shall credit fifty percent (50%) of that amount to the county general school fund and fifty percent (50%) of that amount to the county highway fund, for use for the same purposes as other moneys credited to the respective said future funds; and

(ii) (a) Seventy-five percent (75%) shall be special revenues and shall be credited to the County Aid Fund.

(b) On or before the tenth of the month following the end of each calendar quarter these special revenues shall be remitted by the Treasurer of State by state warrant to the various county treasurers on the basis of the formula applied in allocating or distributing county aid highway funds from the County Aid Fund.

(c) All such funds so received by each county shall be used exclusively for construction, reconstruction, maintenance, and repair of county roads and bridges in the county.

(f) The additional severance taxes levied by this section shall be collected in the manner prescribed by this subchapter.

(g) The violation of this section shall subject the violator to the penalties prescribed by this subchapter.