AR HB1829

Amends Arkansas Code § 6-20-2305(a)(4) to clarify how the Department of Education distributes funds to school districts based on whether net revenues fall below or exceed 98% of the uniform rate of tax multiplied by property assessment.

Requires the Treasurer of State to process distributions to county treasurers no more than six (6) times per month with no interim distributions.

Mandates each county treasurer submit an annual summary report by January 31 of each year documenting all ad valorem tax proceeds distributed to school districts, with copies to the Treasurer of State, Department of Education, and school district superintendent.

Establishes penalties for county treasurers failing to submit the annual summary report, including withholding of reappraisal funding under § 26-26-1907, with 20% forfeited every two months of noncompliance and total forfeiture after ten months.

Repeals Arkansas Code § 25-28-109 and § 26-26-2001 et seq. (Subchapter 20), consolidating uniform reporting requirements into § 26-80-101(b)(4)(A).