AR HB1767

Amends Arkansas Code § 26-60-107 to allow use of documentary symbols as an alternative to traditional documentary stamps for real property transfer tax compliance.

Authorizes use of electronic affidavits with electronic signatures in place of paper affidavits, if authorized by the Director of the Department of Finance and Administration.

Requires the Director to investigate alternative compliance methods by November 1, 2011, and collaborate with attorneys, title companies, county recorders, and other stakeholders to recommend alternatives.

Mandates the Director report investigation findings to the Speaker of the House and President Pro Tempore (or Legislative Council during interim) before promulgating rules on alternative compliance methods.

Updates recordation requirements in § 26-60-110 to accept instruments with documentary symbols or electronic affidavits as valid proof of real property transfer tax compliance, and clarifies that documentary stamps or symbols must be visible in recorded documents.