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AR SB400

Bill

Official Source

Status

Passed

3/15/2011

Primary Sponsor

Bill Sample

Click for details

Origin

Senate

88th General Assembly (2011 Regular)

AI Summary

  • Amends Arkansas Code § 14-164-327 to add a new subsection (c) governing county-wide sales and use taxes for capital improvement bonds

  • Exempts county sales and use taxes levied solely to retire capital improvement bonds from the requirements of Section 26-74-414(b)

  • Applies the exemption only when all collections from the local sales and use tax are pledged by the county to pay principal and interest on the capital improvement bonds

  • Restricts the use of such tax revenue exclusively to debt service on capital improvement bonds

Legislative Description

To Restrict The Use Of A County-wide Sales And Use Tax To Retire Capital Improvement Bonds.

Last Action

Senate Notification that SB400 is now Act 276

3/15/2011

Committee Referrals

City, County and Local Affairs3/2/2011
City, County & Local Affairs2/21/2011

Full Bill Text

No bill text available