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Ark. Code Ann. § 27-76-601

Financing generally

Known as the Regional Mobility Authority Act

The act spans §§ 27–27 (54 sections).

Acts 2007, No. 389, § 1; 2013, No. 497, § 5.

(1) A regional mobility authority may be financed or supported by receiving the following: If requested and adopted, revenue from the levy by a member county of a sales tax under § 26-74-201 et seq., § 26-74-301 et seq., and § 26-74-401 et seq. for the benefit of the regional mobility authority;

(2) If requested and adopted, revenue from the levy by a member city of a sales tax under § 26-75-201 et seq. and § 26-75-301 et seq. for the benefit of the regional mobility authority;

(3) Revenue from a motor vehicle tax imposed by a county that is a member of a regional mobility authority under § 26-78-101 et seq.;

(4) If authorized by law, requested, and adopted, revenue from the levy of an additional sales and use tax for the benefit of a regional mobility authority by a county or city not to exceed one-half of one percent (0.5%).

(5) A sales and use tax levied as described in this subdivision (a)(4) is in addition to any taxes levied under subdivisions (a)(1)-(3) of this section;

(6) Proceeds from tolls from toll facility projects owned by the regional mobility authority;

(7) Proceeds from charges and rates imposed on surface transportation systems owned by the regional mobility authority that are not toll facility projects;

(8) Proceeds from the sale of bonds;

(9) State turnback funds received from counties that are members of the regional mobility authority and cities that are within the boundaries of a regional mobility authority, under §§ 27-70-206 and 27-70-207;

(10) Other state funding that is appropriated; or

(11) Other funds from a state agency.

(12) Taxes and tolls imposed under subdivisions (a)(1)-(5) of this section shall be approved by voters pursuant to all applicable election laws.

(13) A regional mobility authority shall not use revenue from a transportation project in a manner that is not authorized by this chapter or other law.

(14) Except as provided by this chapter, revenue derived from a transportation project shall not be applied for a purpose or to pay a cost other than a cost or purpose that is reasonably related to or anticipated to be for the benefit of a transportation project.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.