$260 Million Surplus for Arkansas

Forbes - NY,USA: Arkansas officials announced last week that the state ended the fiscal year with a $176.5 million surplus. That amounts to a little under 4 percent of the $4.5 billion in revenue the state pulled during the fiscal year that ended June 30. The extra money, plus another $83 million the state already had left over, means lawmakers will return to the Capitol with $259.5 million available in the state's General Improvement Fund - typically used to fund one-time projects. Gov. Bebee and Republican legislators have different views on the use of the surplus. Bebee sees fund being used for capital improvement needs and his fund to aid new business whereas Republicans see a need to rerun some of the money to people due to over taxation. Unknown if Gov. Bebee will finally agree on the repeal the remining state's sales tax on groceries which he had promised to eleiminate when running for office. . . . [Read More]

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