Arkansas Could Create Scholarships with Severance Tax Hike - KAIT Jonesboro, AR - Region 8 News, weather, sports

Little Rock, AR

Arkansas Could Create Scholarships with Severance Tax Hike

LITTLE ROCK, AR - A nonprofit group says Arkansas could use an increased severance tax on natural gas to create a statewide scholarship program modeled after the one funded by Murphy Oil Corporation.  That program guarantees nearly every El Dorado high school graduate a college education.

The Southern Good Faith Fund recommended hiking the tax to create a trust fund that could pay for higher education initiatives.  The group said the trust fund could earn between $144.6 million and $345.9 million in interest over the next decade, and part of the money could be used to create a statewide scholarship modeled after El Dorado Promise.

El Dorado Promise is a one-year-old $50 million scholarship program funded by Murphy Oil.  The Southern Good Faith Fund said a statewide version of the scholarship would cost $85 million in its first year.

The group said revenues from the trust fund also could go toward the state's Workforce Investment Grant program and a needs-based scholarship created by the Legislature last year.

(Copyright 2008 by The Associated Press.  All Rights Reserved.)

  • Region 8 News</span><a class="customMoreLink" href="/Global/category.asp?C=4391" target="_top">More >></a>Region 8 NewsMore>>

  • Vandal dims woman's Christmas display

    Vandal dims woman's Christmas display

    Friday, November 24 2017 10:46 AM EST2017-11-24 15:46:36 GMT
    Friday, November 24 2017 11:10 AM EST2017-11-24 16:10:08 GMT
    (Source: Pablo)(Source: Pablo)

    A woman’s holiday spirit is far from bright after someone cut the cords on her Christmas lights.

    A woman’s holiday spirit is far from bright after someone cut the cords on her Christmas lights.

  • MSHP: Driver in fatal crash was drunk

    MSHP: Driver in fatal crash was drunk

    Friday, November 24 2017 10:36 AM EST2017-11-24 15:36:26 GMT
    Friday, November 24 2017 10:41 AM EST2017-11-24 15:41:03 GMT
    (Source: Raycom Media)(Source: Raycom Media)

    A man faces two counts of involuntary manslaughter following a one-vehicle crash that left two people dead.

    A man faces two counts of involuntary manslaughter following a one-vehicle crash that left two people dead.

  • Shoppers prepare for Black Friday

    Shoppers prepare for Black Friday

    Thursday, November 23 2017 11:35 PM EST2017-11-24 04:35:16 GMT
    (Source: KAIT)(Source: KAIT)

    Most shoppers began their Black Friday shopping a day early, going to stores Thursday night to pick up on bargains.  

    Most shoppers began their Black Friday shopping a day early, going to stores Thursday night to pick up on bargains.  

Powered by Frankly