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>>

  • Officers to train for dangerous traffic stops

    Officers to train for dangerous traffic stops

    Tuesday, April 25 2017 11:38 PM EDT2017-04-26 03:38:04 GMT
    Tuesday, April 25 2017 11:43 PM EDT2017-04-26 03:43:47 GMT
    (Source: KAIT)(Source: KAIT)

    The Cash Police Department plans to host a class for its officers that would help prepare them for dangerous traffic stops.

    The Cash Police Department plans to host a class for its officers that would help prepare them for dangerous traffic stops.

  • MAPC approves nearly 300 apartments on Caraway Road

    MAPC approves nearly 300 apartments on Caraway Road

    Tuesday, April 25 2017 11:20 PM EDT2017-04-26 03:20:40 GMT
    Tuesday, April 25 2017 11:40 PM EDT2017-04-26 03:40:22 GMT
    (Source: Braxton Development Apartments)(Source: Braxton Development Apartments)

    A plan to build nearly 300 apartment units on South Caraway Road was approved during a Metropolitan Area Planning Commission meeting Tuesday.

    A plan to build nearly 300 apartment units on South Caraway Road was approved during a Metropolitan Area Planning Commission meeting Tuesday.

  • Tacos 4 Life coming to Jonesboro

    Tacos 4 Life coming to Jonesboro

    Tuesday, April 25 2017 11:02 PM EDT2017-04-26 03:02:06 GMT
    Tuesday, April 25 2017 11:13 PM EDT2017-04-26 03:13:00 GMT
    Tacos 4 Life (Source: Haag Brown Commercial Real Estate and Development via Facebook)Tacos 4 Life (Source: Haag Brown Commercial Real Estate and Development via Facebook)

    A new taco restaurant is headed to Jonesboro.

    A new taco restaurant is headed to Jonesboro.

Powered by Frankly