(a)

(1) In addition to all other taxes levied upon distillate special fuel, there is levied an additional tax on distillate special fuel of five cents (5cent(s)) for each gallon of distillate special fuel sold or used in this state or purchased for sale or use in this state.

(2) The additional tax on distillate special fuel applies only to distillate special fuel intended for highway use or to fuel a motor vehicle intended for highway use.

(b) The additional distillate special fuel tax under this section is subject to the exemptions under this chapter.

(c)

(1) The levy of the additional tax on distillate special fuel by subdivision (a)(1) of this section is conditioned upon the approval by a majority of the qualified electors of the state voting on the measure providing for the levy of the additional tax on distillate special fuel and the issuance of bonds in a statewide election held under the provisions of the Arkansas Highway Financing Act of 2011, § 27-64-501 et seq.

(2) If the levy of the additional tax on distillate special fuel and the issuance of the bonds is approved, the:

(A) Effective date of the additional tax on distillate special fuel levied by subdivision (a)(1) of this section shall be the first day of the second month following the month in which the Secretary of State certifies the vote of the voters of the state approving the levy of the additional tax on distillate special fuel and the issuance of bonds; and

(B) Additional tax on distillate special fuel levied by subdivision (a)(1) of this section shall terminate and shall no longer be collected upon certification by the Chair of the State Highway Commission that the bonds issued under the Arkansas Highway Finance Act of 2011, § 27-64-501 et seq., have been paid in full and all obligations of the commission with respect to the bonds have been performed in full.

(3) If the levy of the additional tax on distillate special fuel and the issuance of the bonds are not approved, the levy of the additional tax on distillate special fuel by subdivision (a)(1) of this section shall terminate and the additional tax shall not be collected.