reglab/statecodes huggingface dataset:
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 4 - MISCELLANEOUS REGULATED INDUSTRIES (§§ 23-110-101 — 23-119-105) › Chapter 117 - CASINO GAMING (§§ 23-117-101 — 23-117-102) › Section 23-117-101 - Letter of support for casino applicant

(a)
Pursuant to The Arkansas Casino Gaming Amendment of 2018, Arkansas Constitution, Amendment 100, the Arkansas Racing Commission shall require a casino applicant for a casino license in Pope County and Jefferson County to submit:
(1)
Either a letter of support from the county judge or a resolution from the quorum court in the county where the proposed casino is to be located; and
(2)
If the proposed casino is to be located within a city or town, a letter of support from the mayor in the city or town where the proposed casino is to be located.
(b)
A letter of support from the county judge or a resolution of support from the quorum court, and from the mayor, if appropriate, required under subsection (a) of this section shall be dated and signed by the county judge, quorum court, or mayor holding office at the time of the submission of an application for a casino license.
Added by Act 2019, No. 371,§ 2, eff. 3/8/2019.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 4 - MISCELLANEOUS REGULATED INDUSTRIES (§§ 23-110-101 — 23-119-105) › Chapter 118 - PAID ESPORTS TOURNAMENTS (§§ 23-118-101 — 23-118-103) › Section 23-118-101 - Legislative findings

(a)
The General Assembly finds that a paid esports tournament conducted in compliance with this chapter does not constitute gambling for any purpose.
(b)
Paid and nonpaid esports tournaments conducted in compliance with this chapter are exempt from §
5-66-101
et seq.
(c)
Income earned by esports tournament competitors or esports tournament organizers as a result of a paid esports tournament is taxable under the Income Tax Act of 1929, §
26-51-101
et seq.
Added by Act 2023, No. 439,§ 1, eff. 8/1/2023.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 4 - MISCELLANEOUS REGULATED INDUSTRIES (§§ 23-110-101 — 23-119-105) › Chapter 118 - PAID ESPORTS TOURNAMENTS (§§ 23-118-101 — 23-118-103) › Section 23-118-103 - Paid esports tournaments authorized

(a)
An esports tournament organizer is authorized to conduct a paid esports tournament through one (1) or more websites, local area networks, video gaming platforms, or other similar gaming platforms maintained and operated by the esports tournament organizer under this chapter.
(b)
Wagering on the outcome of an esports tournament is not authorized under this chapter.
Added by Act 2023, No. 439,§ 1, eff. 8/1/2023.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 4 - MISCELLANEOUS REGULATED INDUSTRIES (§§ 23-110-101 — 23-119-105) › Chapter 119 - DIGITAL ASSET MINING BUSINESSES (§§ 23-119-101 — 23-119-105) › Section 23-119-101 - Legislative intent - findings - purpose

(a)
This chapter establishes the standards and criteria for the permitting and regulation of digital asset mining businesses.
(b)
The General Assembly finds:
(1)
Digital asset mining businesses represent a new and emerging industry that presents significant challenges for the citizens of Arkansas, including without limitation:
(A)
Significant noise emissions;
(B)
Massive consumption of power;
(C)
The usage of large quantities of water that could potentially threaten resources for citizens and future economic development opportunities; and
(D)
Potential issues involving cybersecurity.
(2)
While the State of Arkansas welcomes new businesses and economic growth, the General Assembly likewise has a responsibility to ensure that the operations of new industries do not negatively impact the public peace, health, and safety or otherwise damage the well-being of the citizens of the state;
(3)
When an industry presents harm to the public peace, health, and safety, it has been the practice of the General Assembly to provide for regulation of that industry to ensure that the industry operates successfully while not harming the citizens of the state and its natural resources; and
(4)
Based upon the challenges presented by digital asset mining businesses, it is necessary to regulate digital asset mining businesses as provided in this chapter to provide a regulatory framework for the safe operation of this new, emerging industry.
(c)
The purpose of this chapter is to:
(1)
Promote, preserve, and protect the public peace, health, and safety through effective permitting and regulation of digital asset mining businesses;
(2)
Provide for the powers and duties of the Oil and Gas Commission relating to the permitting and regulation of digital asset mining businesses; and
(3)
Prescribe penalties for violations of this chapter.
Added by Act 2024, No. 174,§ 4, eff. 5/3/2024.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 4 - MISCELLANEOUS REGULATED INDUSTRIES (§§ 23-110-101 — 23-119-105) › Chapter 119 - DIGITAL ASSET MINING BUSINESSES (§§ 23-119-101 — 23-119-105) › Section 23-119-102 - Definitions

As used in this chapter:
(1)
"Blockchain network" means a group of computers operating and processing together to execute a consensus mechanism to agree upon and verify data in a digital record for the purpose of generating digital assets;
(2)
"Digital assets" means cryptocurrency, virtual currency, and natively electronic assets, including without limitation stable coins, nonfungible tokens, and other digital-only assets, that confer economic rights or powers;
(3)
"Digital asset mining business" means a group of computers working at a single site that consumes more than one megawatt (1 MW) of electrical energy on an average annual basis for the purpose of generating digital assets by securing a blockchain network; and
(4)
"Local government" means a county, a city of the first class, a city of the second class, or an incorporated town.
Added by Act 2024, No. 174,§ 4, eff. 5/3/2024.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 4 - MISCELLANEOUS REGULATED INDUSTRIES (§§ 23-110-101 — 23-119-105) › Chapter 119 - DIGITAL ASSET MINING BUSINESSES (§§ 23-119-101 — 23-119-105) › Section 23-119-103 - Permit - application

(a)
A digital asset mining business shall not operate in Arkansas without a valid permit from the Oil and Gas Commission under this chapter.
(b)
The commission shall establish the application for a permit for a digital asset mining businesses to operate.
(c)
The issuance of a digital asset mining business permit shall be contingent upon compliance with all applicable state laws, including without limitation the Arkansas Data Centers Act of 2023, §
14-1-601
et seq.
Added by Act 2024, No. 174,§ 4, eff. 5/3/2024.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 4 - MISCELLANEOUS REGULATED INDUSTRIES (§§ 23-110-101 — 23-119-105) › Chapter 119 - DIGITAL ASSET MINING BUSINESSES (§§ 23-119-101 — 23-119-105) › Section 23-119-104 - Rules

The Oil and Gas Commission shall promulgate rules to implement this chapter, including without limitation rules establishing requirements for:
(1)
Permitting;
(2)
Application for a permit;
(3)
Renewal of a permit;
(4)
The requirements and terms for a permit; and
(5)
The establishment and operation of a digital asset mining business.
Added by Act 2024, No. 174,§ 4, eff. 5/3/2024.
Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 4 - MISCELLANEOUS REGULATED INDUSTRIES (§§ 23-110-101 — 23-119-105) › Chapter 119 - DIGITAL ASSET MINING BUSINESSES (§§ 23-119-101 — 23-119-105) › Section 23-119-105 - Enforcement

(a)
The Oil and Gas Commission shall have jurisdiction of and authority over all persons and property necessary to administer and enforce effectively:
(1)
This chapter; and
(2)
The Arkansas Data Centers Act of 2023, §
14-1-601
et seq.
(b)
Upon receipt of a complaint under subsection (d) of this section, the commission may make inquiries it deems proper relating to its duties to administer and enforce this chapter and the Arkansas Data Centers Act of 2023, §
14-1-601
et seq., including without limitation:
(1)
Making reasonable investigations and inspections;
(2)
Examining properties, leases, papers, books, and records;
(3)
Holding hearings;
(4)
Requiring the keeping of records and the making of reports; and
(5)
Taking such action as may be reasonably necessary to enforce this chapter.
(c)
Upon receipt of a complaint under subsection (d) of this section, the commission may make, after hearing and notice, such reasonable orders as necessary from time to time in the proper administration and enforcement of this chapter and the Arkansas Data Centers Act of 2023, §
14-1-601
et seq.
(d)
(1)
An individual or legal entity may file a complaint with the commission relating to the compliance of digital asset mining businesses with state law, the requirements and terms of a permit, or the rules of the commission.
(2)
Upon receipt of a complaint, the commission may:
(A)
Investigate the complaint; and
(B)
Assess penalties in response to any identified noncompliance.
(e)
The commission shall promulgate rules establishing:
(1)
The procedures for ensuring compliance with state law, the requirements and terms of a permit, and rules of the commission; and
(2)
(A)
Penalties for failure to comply with state law, the requirements and terms of a permit, or rules of the commission, including without limitation:
(i)
Financial penalties; and
(ii)
The suspension or revocation of a permit issued under this chapter.
(B)
Financial penalties under this subdivision (e)(2) shall not exceed five thousand dollars ($5,000) per day of a violation.
(f)
This chapter does not:
(1)
Prohibit a local government from adopting one (1) or more ordinances, resolutions, or other appropriate legislative enactments to regulate digital asset mining businesses that:
(A)
Address areas of regulation that are not otherwise addressed by federal law, state law, or the rules of the commission; and
(B)
Are not inconsistent with federal law, state law, or the rules of the commission; and
(2)
Prevent a local government from enforcing an ordinance, resolution, or other appropriate legislative enactment regulating digital asset mining businesses that is not inconsistent with federal law, state law, or the rules of the commission.
Added by Act 2024, No. 174,§ 4, eff. 5/3/2024.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-108) › Section 24-1-101 - Assets and income for retirement systems

All assets and income of any state-supported retirement system administered by an agency of the State of Arkansas shall be held, invested, or disbursed for the exclusive purpose of providing for benefits, investment management, and administrative expenses, including the acquisition of a building for the permanent offices of the state-supported retirement systems, and shall not be encumbered for or diverted to any other purposes.
Acts 1995, No. 613, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-108) › Section 24-1-102 - Annual valuation

(a)
Annually, each Arkansas state-supported retirement system shall make a valuation of each system's assets and incomes for the system.
(b)
Actuarial assumptions and methods which are used for the annual valuation of each Arkansas state-supported retirement system shall be set by each system's board based upon the recommendations made by the board's actuary and agreed upon by the actuary employed by the Joint Committee on Public Retirement and Social Security Programs or other actuary employed by the General Assembly to review public retirement system legislation.
(c)
If the board's actuary and the actuary employed by the General Assembly do not agree as to the actuarial assumptions and methods used to calculate the system's valuation, then a third actuary shall be selected mutually between the actuaries, and the third actuary shall determine the actuarial assumptions and methods to be used.
(d)
The actuarial assumptions and methods shall include the actuarial funding method, the method of valuing assets, and similar actuarial matters involved in the actuarial valuation.
Acts 1995, No. 613, § 2.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-108) › Section 24-1-103 - Change of contribution rate

No contribution rate of any state-supported retirement system in effect on March 14, 1995, shall be changed except by a vote of the General Assembly.
Acts 1995, No. 613, § 2.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-108) › Section 24-1-104 - Liabilities not to exceed thirty-year amortization

No legislated benefit enhancement shall be enacted which would cause the system's unfunded accrued actuarial liabilities to exceed a thirty-year amortization.
Acts 1995, No. 613, § 2.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-108) › Section 24-1-105 - Liabilities exceeding thirty-year amortization period - Legislated benefit enhancement prohibited

When any retirement system on or after March 14, 1995, has unfunded actuarial accrued liabilities being amortized over a period exceeding thirty (30) years, that system shall not have a legislated benefit enhancement until the unfunded actuarial accrued liability is reduced to a level less than the standards set by this subchapter.
Acts 1995, No. 613, § 2.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-108) › Section 24-1-108 - Effect of concurrent employment on member's benefits - Notice

(a)
The purpose of this section is to provide notice to an applicant for concurrent employment in a public employee position that the concurrent employment might affect the employee's retirement benefits and to allow the employee and employer an opportunity to consider an alternative method of employment that would allow an enhanced retirement benefit for the prospective employee.
(b)
If an applicant for concurrent employment in a public employee position provides information to a prospective public employer that the applicant is a current public employee and is enrolled as a member of a reciprocal system, then the prospective employer shall notify the applicant that it may be in the applicant's best interest to contact his or her current retirement system regarding the legal status of retirement benefits that may result if the applicant is employed by two (2) or more state-supported retirement systems.
(c)
The failure of a state-supported retirement system to notify a prospective employee under this section does not create a legal obligation on behalf of the state-supported retirement system or a legal right on behalf of the prospective employee.
Acts 2009, No. 1280, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 2 - PUBLIC EMPLOYEES' SOCIAL SECURITY (§§ 24-1-201 — 24-1-213) › Section 24-1-201 - Declaration of policy

In order to extend to employees of the State of Arkansas and its political subdivisions and the employees' dependents and survivors the basic protection accorded to others by the federal old age, survivors' and disability insurance, and health insurance coverage embodied in the Social Security Act,
42 U.S.C. § 301
et seq., it is declared to be the policy of the State of Arkansas, subject to the limitations of this subchapter, that steps be taken to provide protection to employees of the state and its political subdivisions in compliance with the provisions of the Social Security Act,
42 U.S.C. § 301
et seq.
Acts 1951, No. 248, § 1; A.S.A. 1947, § 12-2401; Acts 2005, No. 100, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 2 - PUBLIC EMPLOYEES' SOCIAL SECURITY (§§ 24-1-201 — 24-1-213) › Section 24-1-203 - Rules

The Arkansas Public Employees' Retirement System shall make and publish rules not inconsistent with the provisions of this subchapter it finds necessary or appropriate to the efficient administration of the functions with which it is charged under this subchapter.
Amended by Act 2019, No. 315,§ 2841, eff. 7/24/2019.
Acts 1951, No. 248, § 10; A.S.A. 1947, § 12-2410; Acts 2005, No. 100, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 2 - PUBLIC EMPLOYEES' SOCIAL SECURITY (§§ 24-1-201 — 24-1-213) › Section 24-1-204 - Agreements with United States Government and other states

(a)
The Arkansas Public Employees' Retirement System is authorized to enter, on behalf of the state, into a Section 218 agreement consistent with the terms and provisions of this subchapter, with the Commissioner of Social Security for the purpose of extending the benefits of the federal old age, survivors' and disability insurance, and health insurance coverage to employees of the state, or any political subdivision of the state, with respect to services specified in the Section 218 agreement which constitute employment as defined in §
24-1-202
. This Section 218 agreement may contain provisions relating to coverage, benefits, effective date, modification of the Section 218 agreement, administration, and such other matters as the system and the commissioner shall agree upon, but except as may be otherwise required by or under the Social Security Act,
42 U.S.C. § 301
et seq., as to the services to be covered, the Section 218 agreement shall provide in effect that:
(1)
Benefits will be provided for employees whose services are covered by the Section 218 agreement, as well as for their dependents and survivors, on the same basis as though the services constituted employment within the meaning of Title II of the Social Security Act,
42 U.S.C. § 301
et seq.;
(2)
The employer shall pay to the Internal Revenue Service, at such time or times as may be prescribed under the Social Security Act,
42 U.S.C. § 301
et seq., contributions with respect to wages, as defined in §
24-1-202
, equal to the sum of the taxes levied by that Social Security Act;
(3)
All services which constitute employment as defined in §
24-1-202
and are performed in the employ of the state by employees shall be covered by the Section 218 agreement; and
(4)
All services shall be covered by the Section 218 agreement which:
(A)
Constitute employment as defined in §
24-1-202
;
(B)
Are performed in the employ of a political subdivision; and
(C)
Are covered by a plan which is in conformity with the terms of the Section 218 agreement and has been approved by the system under §
24-1-205
.
(b)
The system is authorized to enter on behalf of the state into an agreement with the appropriate agency or agencies of any other state and with the Commissioner of Social Security, whereby the benefits of the federal old age, survivors' and disability insurance, and health insurance coverage shall be extended to employees of any instrumentality jointly created by this state and any other state or states. To the extent practicable, the agreement shall be consistent with the terms and provisions of subsection (a) of this section and other provisions of this subchapter.
Acts 1951, No. 248, § 3; 1953, No. 410, § 1; A.S.A. 1947, § 12-2403; Acts 2005, No. 100, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 2 - PUBLIC EMPLOYEES' SOCIAL SECURITY (§§ 24-1-201 — 24-1-213) › Section 24-1-205 - Plans for employees of political subdivisions

Each political subdivision of the state is authorized to submit for approval by the Arkansas Public Employees' Retirement System a plan for extending the benefits of Title II of the Social Security Act,
42 U.S.C. § 301
et seq., in conformity with the applicable provisions of that act, to employees of the political subdivisions. Each plan, and any amendment to it, shall be approved by the system if it finds that the plan, or plan as amended, is in conformity with such requirements as are provided in rules of the system, except that no plan shall be approved unless:
(1)
It is in conformity with the requirements of the Social Security Act,
42 U.S.C. § 301
et seq., and with the Section 218 agreement entered into under §
24-1-204
;
(2)
It provides that all services which constitute employment as defined in §
24-1-202
and are performed by the employees of a political subdivision shall be covered by the plan;
(3)
It specifies the sources from which the funds necessary to make the payments required by §
24-1-208(a)(1)
and §
24-1-208(b)
are expected to be derived and contains reasonable assurance that the sources will be adequate for that purpose;
(4)
It provides for methods of administration of the plan by the political subdivision as are found by the system to be necessary for the proper and efficient administration of the plan; and
(5)
It provides that the political subdivision shall make reports in such form and containing such information as the system may require and shall comply with the provisions as the system or the Commissioner of Social Security may find necessary from time to time to assure the correctness and verification of reports.
Amended by Act 2019, No. 315,§ 2842, eff. 7/24/2019.
Acts 1951, No. 248, § 5; A.S.A. 1947, § 12-2405; Acts 2005, No. 100, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 2 - PUBLIC EMPLOYEES' SOCIAL SECURITY (§§ 24-1-201 — 24-1-213) › Section 24-1-206 - Agents

(a)
For the purpose of entering into agreements with the Arkansas Public Employees' Retirement System, the following named officers are authorized and empowered to make the agreement on behalf of their agency or political subdivision:
(1)
(A)
(i)
The board of control of each state institution or agency having a board or the administrative head of each state department.
(ii)
The board of control shall have authority to designate an agent to represent the agency over which it has control.
(B)
In the case of state agencies which do not have a board of control, the chief administrative officer shall act as the contracting officer for the agency;
(2)
The county judge of each county entering into an agreement with the system shall make and enter of record a county court order approving the agreement with the system and shall designate the county clerk as the agent of the county to deal with the system;
(3)
The city council of each municipality is authorized to approve the agreement with the system and shall adopt an ordinance designating the city clerk or recorder to represent the municipality; and
(4)
The board of directors of each school district shall have authority to approve the agreement with the system and shall designate the county school supervisor or the local superintendent of each school district to deal with the system.
(b)
In complying with the provisions of this subchapter, each political subdivision which qualifies to participate in the Social Security plan shall be required as a part of its agreement with the system to designate an agent to represent the political subdivision in all matters affecting the administration of the plan.
(c)
All agents provided for under the provisions of this subchapter who represent the state or a local subdivision in connection with the enforcement of this subchapter shall receive no additional remuneration or emolument of their offices in connection with the administration of this subchapter.
Acts 1951, No. 248, §§ 7, 9, 10; A.S.A. 1947, §§ 12-2407, 12-2409, 12-2410; Acts 2005, No. 100, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 2 - PUBLIC EMPLOYEES' SOCIAL SECURITY (§§ 24-1-201 — 24-1-213) › Section 24-1-207 - Contributions - State employees

(a)
Every employee of the state whose service is covered by a Section 218 agreement entered into under §
24-1-204
shall be required to pay contributions for the period of the coverage with respect to wages as defined in §
24-1-202
, equal to the amount of tax levied under the Social Security Act,
42 U.S.C. § 301
et seq. This liability shall arise in consideration of the employee's retention in the service of the state, or his or her entry upon such service.
(b)
The contributions imposed by this section shall be collected by deducting the amount of the contributions from wages as and when paid, but failure to make the deduction shall not relieve the employee from liability for his or her contributions.
(c)
If more or less than the correct amount of the contributions imposed by this section is paid or deducted with respect to any remuneration, proper adjustments, or a refund if an adjustment is impracticable, shall be made without interest in such manner and at such times as the Arkansas Public Employees' Retirement System shall prescribe.
Acts 1951, No. 248, § 4; A.S.A. 1947, § 12-2404; Acts 2005, No. 100, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 2 - PUBLIC EMPLOYEES' SOCIAL SECURITY (§§ 24-1-201 — 24-1-213) › Section 24-1-208 - Contributions - Employees of political subdivisions

(a)
(1)
Each political subdivision as to which a plan has been approved under §
24-1-205
, with respect to wages as defined in §
24-1-202
and at such time or times as the Arkansas Public Employees' Retirement System may by rule prescribe, shall pay contributions in the amounts and at the rates specified in the applicable Section 218 agreement entered into by the system under §
24-1-204
.
(2)
(A)
(i)
Each political subdivision required to make payments under subdivision (a)(1) of this section, in consideration of the employee's retention in, or entry upon, employment, is authorized to impose upon each of its employees, as to services which are covered by an approved plan, a contribution with respect to the employee's wages as defined in §
24-1-202
.
(ii)
This amount shall not exceed the amount of tax which would be imposed by the Social Security Act,
42 U.S.C. § 301
et seq.
(B)
The political subdivision is authorized to deduct the amount of the contribution from the employee's wages as and when paid.
(C)
Failure to deduct the contribution shall not relieve the employee or employer of liability for the payments.
(b)
Delinquent payments due under subdivision (a)(1) of this section may be recovered with interest at the rate of six percent (6%) per annum by an action in a court of competent jurisdiction against the political subdivision liable for the payments or at the request of the system, may be deducted from any other moneys payable to the subdivision by any department or agency of the state.
Amended by Act 2019, No. 315,§ 2843, eff. 7/24/2019.
Acts 1951, No. 248, § 5; A.S.A. 1947, § 12-2405; Acts 2005, No. 100, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 2 - PUBLIC EMPLOYEES' SOCIAL SECURITY (§§ 24-1-201 — 24-1-213) › Section 24-1-213 - Studies and reports

(a)
The Arkansas Public Employees' Retirement System shall make studies concerning the problem of old age, survivors' and disability insurance, and health insurance protection for employees of the state and its political subdivisions and studies concerning the operation of agreements made and plans approved under this subchapter.
(b)
The system shall submit a report at the beginning of each regular session covering the administration and operation of this subchapter during the preceding two (2) fiscal years and including such recommendations and amendments to this subchapter as it considers proper.
Acts 1951, No. 248, § 11; A.S.A. 1947, § 12-2411; Acts 2005, No. 100, § 1; 2009, No. 962, § 42.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 3 - FORFEITURE OF PUBLIC RETIREMENT SYSTEM BENEFITS (§§ 24-1-301 — 24-1-305) › Section 24-1-301 - Definitions

As used in this subchapter:
(1)
"Beneficiary" means an individual who receives or is designated by a member or retirant to receive a plan benefit under a retirement system; and
(2)
"Retirement system" means:
(A)
The Arkansas Teacher Retirement System, established by the Arkansas Teacher Retirement System Act, §
24-7-201
et seq.;
(B)
The Arkansas State Highway Employees' Retirement System, established by §
24-5-103
;
(C)
The Arkansas Public Employees' Retirement System, established by §
24-4-103
;
(D)
The State Police Retirement System, established by §
24-6-203
;
(E)
The Arkansas Judicial Retirement System, established by §
24-8-201
et seq.;
(F)
An alternate retirement plan for:
(i)
A college, university, or the Division of Higher Education provided for under §
24-7-801
et seq.; and
(ii)
A vocational-technical school or the Division of Career and Technical Education, the Adult Education Section, and the Office of Skills Development, provided for under §
24-7-901
et seq.;
(G)
The Arkansas Local Police and Fire Retirement System provided for under §
24-10-101
et seq.; and
(H)
A firemen's relief and pension fund or a policemen's pension and relief fund provided for under §
24-11-101
et seq.
Amended by Act 2019, No. 910,§ 2358, eff. 7/1/2019.
Added by Act 2017, No. 756,§ 1, eff. 8/1/2017.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 3 - FORFEITURE OF PUBLIC RETIREMENT SYSTEM BENEFITS (§§ 24-1-301 — 24-1-305) › Section 24-1-302 - Forfeiture of benefits

(a)
(1)
A beneficiary forfeits his or her right to benefit payments under a retirement system if he or she:
(A)
Is convicted by a court of competent jurisdiction of the unlawful killing of the member or retirant;
(B)
Pleads guilty or nolo contendere to the unlawful killing of the member or retirant;
(C)
Is found liable by a court of competent jurisdiction for the unlawful killing of the member or retirant by a preponderance of the evidence in a civil action;
(D)
Is acquitted by a court of competent jurisdiction for the unlawful killing of the member or retirant by reason of insanity, mental defect or disease, or any other mental incapacity; or
(E)
Is found by a court of competent jurisdiction to lack the capacity to understand or effectively assist in defending a criminal proceeding against him or her for the unlawful killing of the member or retirant.
(2)
If a retirement system finds that a beneficiary has forfeited his or her right to benefit payments from the retirement system under subdivision (a)(1) of this section, the retirement system shall treat the beneficiary as if he or she is deceased and shall not make benefit payments to the beneficiary.
(b)
(1)
If a beneficiary appeals his or her conviction for an offense described under subdivision (a)(1) of this section, benefit payments shall not be paid to the beneficiary unless the appeal results in a reversal of the conviction.
(2)
(A)
If the conviction of a beneficiary for an offense described under subdivision (a)(1) of this section is reversed, the retirement system may make benefit payments to the beneficiary.
(B)
If the conviction of a beneficiary for an offense described under subdivision (a)(1) of this section is affirmed, the retirement system shall not make benefit payments to the beneficiary.
(c)
If a member or retirant does not have a contingent beneficiary who may receive benefit payments under this section, the member or retirant's contributions to the retirement system shall be refunded to the estate of the member or retirant.
Added by Act 2017, No. 756,§ 1, eff. 8/1/2017.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 3 - FORFEITURE OF PUBLIC RETIREMENT SYSTEM BENEFITS (§§ 24-1-301 — 24-1-305) › Section 24-1-303 - Suspension of benefit payments

(a)
A retirement system may suspend benefit payments to a beneficiary if the retirement system:
(1)
Receives the written notice required under §
24-1-304
from a prosecuting attorney; or
(2)
Has reasonable cause to believe that the beneficiary will be charged with the unlawful killing of the member or retirant.
(b)
If benefit payments are suspended under this section, the suspension shall continue until:
(1)
A final adjudication of the criminal or civil proceeding; or
(2)
(A)
The retirement system receives written confirmation from the prosecuting attorney that the beneficiary will not be charged with the unlawful killing of the member or retirant.
(B)
The retirement system shall request written confirmation from the prosecuting attorney stating that the beneficiary will not be charged with the unlawful killing of the member or retirant.
Added by Act 2017, No. 756,§ 1, eff. 8/1/2017.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 3 - FORFEITURE OF PUBLIC RETIREMENT SYSTEM BENEFITS (§§ 24-1-301 — 24-1-305) › Section 24-1-304 - Notice to retirement system

(a)
A prosecuting attorney shall send written notice by certified mail, return receipt requested, to the executive director or executive secretary of the applicable retirement system when a beneficiary:
(1)
Is charged with an offense described under §
24-1-302
; or
(2)
(A)
Will not be charged with an offense described under §
24-1-302
.
(B)
If the prosecuting attorney receives a request under §
24-1-303
from a retirement system and a decision on whether the beneficiary will be or will not be charged with an offense described under §
24-1-302
has not been made, the prosecuting attorney shall notify the retirement system that a decision is pending.
(b)
The clerk of the court in which the proceeding against the beneficiary is being conducted shall send written notice by certified mail, return receipt requested, to the executive director or executive secretary of the applicable retirement system when:
(1)
A beneficiary is convicted of an offense described under §
24-1-302
;
(2)
A beneficiary appeals his or her conviction for an offense described under §
24-1-302
; and
(3)
The appellate court issues a final ruling upholding or reversing the conviction of the beneficiary for an offense described under §
24-1-302
.
(c)
A written notice required under this section shall include any information that the applicable retirement system determines necessary for the retirement system to identify the account of the member or retirant and implement this subchapter.
Added by Act 2017, No. 756,§ 1, eff. 8/1/2017.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 1 - GENERAL PROVISIONS (§§ 24-1-101 — 24-1-305) › Subchapter 3 - FORFEITURE OF PUBLIC RETIREMENT SYSTEM BENEFITS (§§ 24-1-301 — 24-1-305) › Section 24-1-305 - Notice to beneficiary

(a)
(1)
The executive director or executive secretary of the applicable retirement system or his or her designee shall notify a beneficiary when benefits shall not be paid as provided under §
24-1-302
.
(2)
The notice provided under subdivision (a)(1) of this section shall advise the beneficiary of:
(A)
The specific facts supporting the retirement system's nonpayment of benefits; and
(B)
His or her right to request a waiver of the forfeiture before the board of trustees of the retirement system.
(b)
(1)
A beneficiary shall request a waiver of the forfeiture by the board of trustees of the retirement system within thirty (30) days of receiving the notice required under subsection (a) of this section.
(2)
A waiver request made under subdivision (b)(1) of this section shall be submitted to the board of trustees of the retirement system in the manner specified by the applicable retirement system.
(c)
Upon receiving a waiver request submitted under subdivision (b)(1) of this section, the board of trustees of the retirement system shall set and notify the beneficiary of the waiver hearing date.
Added by Act 2017, No. 756,§ 1, eff. 8/1/2017.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 2 - PUBLIC EMPLOYEE RETIREMENT PLANS GENERALLY (§§ 24-2-101 — 24-2-806) › Subchapter 2 - INVESTMENTS (§§ 24-2-201 — 24-2-207) › Section 24-2-202 - Procedure for purchase or sale of securities

(a)
All securities purchased or sold by the board of trustees shall be upon sealed offers after publication of notice of proposal to purchase or sell, except securities provided for in §
24-2-201(b)(1), (2), (7), (8), (10), (11), and (12)
.
(b)
(1)
(A)
Not fewer than seven (7) days nor more than fourteen (14) days prior to the date set for the purchase of securities, the board of trustees shall cause a notice to be published by one (1) insertion, in one (1) or more newspapers of general circulation throughout the state and in such other newspapers or financial journals as to it may appear desirable.
(B)
This notice shall request offers to sell such obligations to the system and state the approximate amount of funds proposed to be made available for the purpose and the time and place that the offers will be received.
(2)
On the date and on and after the time so fixed, the board of trustees, or a duly designated subcommittee thereof, shall open, read aloud, tabulate, and compare all the offers received; then, or within twenty-four (24) hours after the date and time so fixed, the board of trustees shall purchase or contract for the purchase of such of the obligations as, in its opinion, will serve the best interest of the retirement system.
(3)
All obligations of a particular type shall be purchased on the basis of the highest annual interest yield to the retirement system.
(4)
The board of trustees may reject any or all offers received and may waive informalities.
(c)
All obligations of a particular issue which are purchased by the board of trustees upon sealed offers shall be accompanied at the time of delivery and payment, by the opinion of recognized bond counsel acceptable to the board of trustees approving without qualification the validity of the issue of which the obligations are a part.
(d)
Direct general obligations of the United States and obligations of instrumentalities thereof may be purchased from the issuers from their duly designated fiscal agents or in the open market either with or without giving prior notice by publication of intention to purchase, all as, in the opinion of the board of trustees, will serve the best interest of the system.
Acts 1963, No. 509, § 2; A.S.A. 1947, § 12-2531.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 2 - PUBLIC EMPLOYEE RETIREMENT PLANS GENERALLY (§§ 24-2-101 — 24-2-806) › Subchapter 2 - INVESTMENTS (§§ 24-2-201 — 24-2-207) › Section 24-2-203 - First lien serial coupon bonds of local industrial development corporations

(a)
Whenever mutually agreeable to the respective boards of trustees, the State Board of Finance may sell and the retirement systems may purchase first lien serial coupon bonds of local industrial development corporations.
(b)
Payment under any sale and purchase agreement may be effected in the State Treasury by charging the proper retirement fund with the purchase price thereof and by delivery of the securities to the custodian of the system.
(c)
In the event of default in payment of the principal of or interest on bonds of industrial development corporations, the State Board of Finance shall repurchase the obligations immediately after being called upon to do so by the system. The transaction may be effected in the State Treasury by crediting the retirement system fund with the purchase price thereof and by delivery of the securities to the custodian of securities for the State Board of Finance for credit of the par value thereof to the Securities Account.
(d)
The amount of the accrued interest due upon any repurchase or original sale shall be charged or credited, as the case may be, to the Securities Reserve Fund.
(e)
The sale and purchase price, and the resale and repurchase price, of first lien serial coupon bonds of industrial development corporations shall be the par value of those obligations, plus accrued interest.
Acts 1963, No. 509, § 3; A.S.A. 1947, § 12-2532.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 2 - PUBLIC EMPLOYEE RETIREMENT PLANS GENERALLY (§§ 24-2-101 — 24-2-806) › Subchapter 2 - INVESTMENTS (§§ 24-2-201 — 24-2-207) › Section 24-2-204 - Default in payment of principal or interest

(a)
In the event of default in payment of the principal of or interest on bonds or other obligations held in the respective retirement funds, if the issuer of the obligations is a state-supported institution of higher learning, a county, a municipal corporation, including boards, commissions, or other authorities thereof, or a school district, the Treasurer of State shall withhold the amount of the default from any moneys in the State Treasury derived from general revenues on hand to the credit of, or held for the benefit of, the issuer and credit that amount, by transfer, to the retirement fund holding the obligations.
(b)
(1)
The State Treasury fund from which any transfer may be made shall be charged with the amount of the transfer.
(2)
(A)
The Treasurer of State shall furnish notification of the transfer, in writing, to the disbursing officer of the fund from which the transfer shall have been made.
(B)
Notification shall set forth the name of the issuer, the date, amount, and purpose of the charge.
(3)
The Treasurer of State shall thereafter cancel and deliver the obligations so retired to the designated paying agent.
(c)
No transfers may be made from moneys in any State Treasury fund which are derived from revenue either specifically or generally pledged to the payment of any issued and outstanding bonds.
Acts 1963, No. 509, § 4; A.S.A. 1947, § 12-2533.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 2 - PUBLIC EMPLOYEE RETIREMENT PLANS GENERALLY (§§ 24-2-101 — 24-2-806) › Subchapter 2 - INVESTMENTS (§§ 24-2-201 — 24-2-207) › Section 24-2-205 - Purchase of obligations not cancellation - Trust

(a)
All obligations purchased or received shall be held in trust for the use and benefit of the system, which trust shall be subject only to the right of the board of trustees to sell or otherwise dispose of the obligations as provided in the various plans.
(b)
No purchase or receipt of obligations by a board of trustees shall ever be construed as a cancellation of the obligations so purchased or received.
Acts 1963, No. 509, § 5; A.S.A. 1947, § 12-2534.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 2 - PUBLIC EMPLOYEE RETIREMENT PLANS GENERALLY (§§ 24-2-101 — 24-2-806) › Subchapter 2 - INVESTMENTS (§§ 24-2-201 — 24-2-207) › Section 24-2-206 - Jurisdiction and custodianship of funds - Interest

(a)
(1)
The various retirement system funds, as established in the State Treasury, are created and constituted trust funds.
(2)
All assets of the various funds, both cash and securities, shall be under the exclusive jurisdiction of the respective boards of trustees and shall be held by the Treasurer of State as custodian, subject to the orders and direction of the boards of trustees.
(b)
The interest received on all investments made from the trust funds shall be considered as trust fund income and shall be deposited into the State Treasury to the credit of the retirement system fund from which the investments were made.
Acts 1963, No. 509, § 6; A.S.A. 1947, § 12-2535.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 2 - PUBLIC EMPLOYEE RETIREMENT PLANS GENERALLY (§§ 24-2-101 — 24-2-806) › Subchapter 2 - INVESTMENTS (§§ 24-2-201 — 24-2-207) › Section 24-2-207 - Assets and income for retirement systems

All assets and income of any retirement system of a city or other political subdivision of the State of Arkansas shall be held, invested, or disbursed for the exclusive purpose of providing for benefits, investment management, and administrative expenses and shall not be encumbered for or diverted to any other purposes.
Acts 1997, No. 554, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 2 - PUBLIC EMPLOYEE RETIREMENT PLANS GENERALLY (§§ 24-2-101 — 24-2-806) › Subchapter 3 - CORRECTION OF ERRONEOUS MEMBERSHIPS (§§ 24-2-301 — 24-2-306) › Section 24-2-301 - Definitions

As used in this subchapter, unless the context otherwise requires:
(1)
"Eligible retirement system" means the retirement system in which the employee is eligible for membership;
(2)
"Employer" means an employing state agency or an employing school district; and
(3)
"Retirement system of record" means the system that holds an erroneous membership.
Acts 1973, No. 667, § 1; 1979, No. 576, § 1; A.S.A. 1947, § 12-2571.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 2 - PUBLIC EMPLOYEE RETIREMENT PLANS GENERALLY (§§ 24-2-101 — 24-2-806) › Subchapter 3 - CORRECTION OF ERRONEOUS MEMBERSHIPS (§§ 24-2-301 — 24-2-306) › Section 24-2-303 - Erroneous enrollment before January 1, 1979

(a)
Any employee who was erroneously enrolled in a state retirement system before January 1, 1979, and whose contributions have not been refunded prior to March 26, 1979, shall continue to be a member of the retirement system of record.
(b)
The member shall receive service credit for all paid membership service in the retirement system, shall be entitled to any free service which was credited to the member prior to March 26, 1979, or which is creditable to the member under existing laws, and shall also be entitled to reciprocal service credits as provided by §§
24-2-401
-
24-2-405
and
24-2-407
.
Acts 1973, No. 667, § 3; 1979, No. 576, § 3; A.S.A. 1947, § 12-2573; Acts 2001, No. 151, § 2.