Arkansas § 6-85-303 - Funding.
Full text of Arkansas Arkansas Code of 1987 Annotated § 6-85-303 — Funding., with citation guidance and answers to common questions.
§ 6-85-303. Funding.
For an academic year, the following shall be used to fund Arkansas Workforce Challenge Scholarships under this subchapter: Excess funding returned to the Office of the Arkansas Lottery under § 6-85-212(e)(2)(B)(i) from the previous academic year; and Net proceeds remaining from the previous academic year after the office: Transfers the funds requested by the Division of Higher Education under § 23-115-801(c)(2); and Deposits the amount necessary to maintain the Scholarship Shortfall Reserve Trust Account under § 23-115-802 in an amount equal to twenty million dollars ($20,000,000). A scholarship under this subchapter shall not be awarded for an academic year if: Less than two hundred fifty thousand dollars ($250,000) is available under subsection (a) of this section; or The division received a loan from the account under § 23-115-802 for the Arkansas Academic Challenge Scholarship Program — Part 2, § 6-85-201 et seq., for the previous academic year. Any funds under subsection (a) of this section that are not disbursed for scholarships under this subchapter shall be carried over to the next academic year to be used for scholarships under this subchapter.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 6-85-303
What does Arkansas Code of 1987 Annotated § 6-85-303 cover?
Section 6-85-303 ("Funding.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 6-85-303?
A common citation format is "Arkansas Code of 1987 Annotated § 6-85-303" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 6-85-303 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.