Ark. Code Ann. § 19-5-1038: Revenue Local Tax Revolving Fund

(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "Revenue Local Tax Revolving Fund".

(b) The fund shall consist of income taxes or any taxes not otherwise prohibited by law levied by counties or municipalities and for which the collection and administration of such taxes are performed by the state, as authorized in § 26-73-105 , there to be transmitted at least quarterly in each state fiscal year to the local government levying the tax, all as set out in §§ 26-73-101 - 26-73-109 .