(a)(1) As used in this section, 'net athletic event gate receipts' means the amount remaining from fees, including charges for reserved seating, collected for admission to a school district athletic event less any expenses, including any rental fee or any leasing cost for a facility used for the athletic event, paid by the school district from those gate receipts.(2) 'Net athletic event gate receipts' does not mean any portion of admission fees charged by a school district for an athletic event held at the school district or at a facility leased or rented by the school district that is remitted or passed through to another entity outside the school district.(b)(1) If approved by the board of directors of a school district, a school district may use net athletic event gate receipts to purchase letter jackets, sweaters, blankets, plaques, or similar items as awards for student participation in school-sponsored activities.(2) The school district shall not expend more than an average of one hundred dollars ($100) per student per activity under subdivision (b)(1) of this section unless the school district has private funds that may be used for that purpose.(c) Beginning July 1, 2007, a e hundred dollars ($100) per student per activity under subdivision (b)(1) of this section unless the school district has private funds that may be used for that purpose.(c) Beginning July 1, 2007, a school district shall account for athletic gate receipts in a separate fund.Acts 2007, No. 1043, § 1.
Arkansas Legal Code