(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a special revenue fund to be known as the 'Division of Aeronautics Fund'.(b) The fund shall consist of those special revenues as specified in § 19-6-301(17).(c) The fund shall be used by the Division of Aeronautics for:(1) Distributing grants-in-aid to qualifying airports of the state as authorized by law;(2) Distributing grants to qualifying applicants as determined by the Director of the Division of Aeronautics and the Aeronautics Commission for any purpose related to: (A) The development of aeronautics;(B) The promotion of aeronautics; or(C) Aviation education;(3) The maintenance, operation, and improvement required in carrying out the functions, powers, and duties set out in § 27-114-101 et seq.; or(4) Carrying out other duties imposed by law upon the division, including without limitation the duties set out in § 27-115-110.Amended by Act 2019, No. 152,§ 1, eff. 7/24/2019.Amended by Act 2019, No. 910,§ 493, eff. 7/1/2019.Acts 1973, No. 808, § 14; 1979, No. 1027, § 6; 1981, No. 938, § 15; 1983, No. 222, § 5; A.S.A. 1947, § 13-503.13.
Arkansas Legal Code