§ 22-3-921 - Lease to Workers' Compensation Commission.
22-3-921. Lease to Workers' Compensation Commission.
(a) The Workers' Compensation Commission, or any successor commission exercising the functions now exercised by the commission, is expressly authorized, empowered, and directed to enter into and execute a lease agreement with the Arkansas Building Authority covering the space in the Arkansas Justice Building to be utilized by the commission for such term, containing such provisions, and for such amount as the commission and the authority shall determine.
(b) The lease agreement may be executed at any time after the plans for the Arkansas Justice Building have been prepared and approved in the manner provided in this subchapter.
(c) If executed prior to completion of the Arkansas Justice Building, the lease shall provide that the commission shall not be obligated to begin the rental payments provided therein until it shall actually occupy its facilities in the Arkansas Justice Building, which occupancy shall be as soon as practicable after the completion of the Arkansas Justice Building. The lease agreement shall be effective and binding upon the parties from and after the date of its actual execution.
(d) The rental payments under the lease shall be made and handled as follows:
(1) The commission, or any successor commission exercising the functions now exercised by the commission, shall remit directly to the Secretary of the Arkansas Justice Building Commission for deposit in the Justice Building Fund the amount due on the annual rental under the lease from the moneys received directly by it from the insurance carrier fees and the premium tax levied under the Workers' Compensation Law, as amended, 11-9-101 et seq.;
(2) If the moneys so received directly by the commission are not sufficient to pay the amount due on the annual rental, the Chair of the Workers' Compensation Commission shall certify the amount of the deficiency to the Insurance Commissioner, or any successor exercising the functions now exercised by the Insurance Commissioner. The Insurance Commissioner shall remit, from the receipts of the premium tax collected by him or her under the Workers' Compensation Law, as amended, 11-9-101 et seq., the amount of such deficiency directly to the secretary of the commission for deposit in the Justice Building Fund;
(3) The rental payments shall be made by the commission or by the Insurance Commissioner, if there is a deficiency, from the moneys received by them prior to the deposit of the moneys in the Workers' Compensation Fund in the State Treasury; and
(4) Upon the discharge of all bonds authorized by this subchapter, rental payments shall be deposited into the Justice Building Fund and applied to the operation and maintenance of the Arkansas Justice Building, as set forth in this subchapter.