Opinion No.

The Honorable B.G. Hendrix, Speaker House of Representatives State Capitol Little Rock, AR 72201

Dear Speaker Hendrix:

You have requested an opinion concerning H.B. 1130 of the First Extraordinary Session of 1989 and a proposed amendment by Representative Mahony, a copy of which is attached to this opinion. Under this proposed bill, a portion of the one percent (1%) tax levied pursuant to a 1983 amendment to the Gross Receipts Tax, would be deposited immediately upon receipt by the Director of the Department of Finance and Administration, in the Revenue Holding Fund Account until he and the…