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(a) A five-dollar ($5.00) fee shall be charged to the buyer of each item at an auto auction that is sold on a certificate of title that is labeled “salvage” or “parts-only”.
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(b) The fee is special revenue and shall be deposited into the State Treasury.
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(c) The Treasurer of State shall transfer the special revenues received under this section on the last business day of each month as follows:
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(1) Fifty percent (50%) for the Division of Environmental Quality to be used for inspection and oversight of auto auctions to enforce all laws and rules administered by the Division of Environmental Quality; and
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(2) Fifty percent (50%) for the Division of Arkansas State Police to be used for inspection and oversight of auto auctions.
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