The following Arkansas legislation pertains to Finances.
- AR Constitution Article 14 Section 2. Public Aid for Private Schools -- The Arkansas Constitution prohibits the use of money or property belonging to the public school fund or to the State for any other purpose.
- AR Constitution Article 16 Section 5. Property Taxes – All dedicated church property, including the church building used as a place of worship, buildings used for administrative or missional purposes, the land upon which the church buildings are located, all church parsonages, any church educational building operated in connection with the church, including a family life or activity center, a recreation center, a youth center, a church association building, a day care center, a kindergarten, or a private church school shall be exempt from property taxes. This also includes 501 (c) (3) organizations.
- 26-52-421. Ticket Sales -- Ticket sales for athletic events and interscholastic activities at public and private schools are exempt from sales tax.
- 6-84-102, 6-84-103, 6-84-106, 6-84-107, 6-84-108, 6-84-109, 6-84-110, and 6-84-111. AR 529 Gift Plan -- allows Arkansas Tax-Deferred Tuition Savings Programs (529 Plans) to not only be used for higher education but also to be used for the elementary or secondary public, private, or religious schools. The reference to private schools can be found in SB6, definition (9) “Higher education institution” means an eligible education institution as defined in 26 U.S.C. 235 (c) (3), as in effect on January 1, 2018. The 26 U.S.C. 235 (c) (3) code expanded the scope of “qualified higher education expenses” to include elementary or secondary public, private, or religious schools and the expansion was adopted by Arkansas in March, 2018.
