(a) The State Board of Collection Agencies may charge an annual license fee not to exceed one hundred twenty-five dollars ($125) for licensing each collection agency and an annual fee of twenty dollars ($20.00) effective September 1, 2013, for registering each employee of the licensed collection agency who as an employee solicits, collects, or attempts to collect any delinquent account or accounts by telephone, mail, personal contact, or otherwise.

(b)

(1) All income from fees imposed under this section shall be distributed in the form of one (1) annual payment that is a percentage of the total funds available up to the maximum authorized under this subsection.

(2) However, if less than one hundred percent (100%) of the total allocation is available for distribution, all allocations listed in subdivisions (b)(3)(A)-(F) of this section shall be funded at a prorated percentage consistent with the available funds, not to exceed the maximum amounts listed in subdivisions (b)(3)(A)-(F) of this section.

(3) Beginning July 1, 2013, and each fiscal year thereafter, the State Board of Collection Agencies shall remit to:

(A) The Treasurer of State for the Division of Medical Services of the Department of Human Services, an amount not to exceed one hundred fifteen thousand dollars ($115,000) for deposit into a paying account as determined by the Chief Fiscal Officer of the State to be used in accordance with § 20-10-705;

(B) The University of Arkansas for Medical Sciences, an amount not to exceed six hundred thousand dollars ($600,000) for deposit into a financial institution in accordance with the policies of the University of Arkansas for Medical Sciences to be expended for the College of Pharmacy and the College of Nursing in accordance with § 6-64-417;

(C) Arkansas State University -- Mountain Home, an amount not to exceed two hundred fifty thousand dollars ($250,000) for deposit into the Arkansas State University -- Mountain Home Fund to be expended exclusively for the Arkansas State University -- Mountain Home Practical Nursing Program;

(D) The University of Central Arkansas, an amount not to exceed one hundred thousand dollars ($100,000) for deposit into the University of Central Arkansas Fund to be expended exclusively for the University of Central Arkansas Department of Nursing;

(E) Southern Arkansas University, an amount not to exceed one hundred thousand dollars ($100,000) for deposit into the Southern Arkansas University Fund to be expended exclusively for personal services and operating expenses of the Southern Arkansas University system; and

(F) Henderson State University, an amount not to exceed one hundred thousand dollars ($100,000) for deposit into the Henderson State University Fund.

(4) Funds remaining after the distributions listed in subdivisions (b)(3)(A)-(F) of this section shall be deposited into the State Board of Collection Agencies account in a bank authorized to do business in this state.

(c) [Repealed.]