The Tax Division of the Arkansas Public Service Commission is responsible for performing all functions and duties regarding the annual assessment, for property tax purposes, public utilities and carriers operating in Arkansas. The Division is governed by Ark. Code Ann. §§ 26-24-101 – 123, §§ 26-26-1601 – 1616, and §§ 26-26-1801 – 1803. The property tax revenue resulting from the assessments made by the Tax Division is a significant source of monetary support for the schools, cities, and counties of Arkansas. In addition, Arkansas Code Ann. §26-26-1616 provides for an Ad Valorem Trust Fund, which is funded from revenues resulting from the Tax Division’s assessments on carrier companies. The Ad Valorem Trust Fund is used to fund the Counties and Municipalities Section of the Division of Legislative Audit, the Assessment Coordination Department, and the Tax Division. The State Treasurer may transmit the remainder of the Fund to the respective counties in the state.