AR SB726

Amends Arkansas Code § 6-20-2305(a)(4)(B) and (C) to prohibit the Department of Education from recouping net revenues collected by a school district from the uniform rate of tax when revenues exceed 98% of the uniform rate of tax multiplied by the property assessment of the school district.

Requires the Department of Education and Assessment Coordination Department to annually collect data verifying timely receipt of revenues applicable to the required 98% threshold.

Authorizes the Department of Education to adjust data if irregular distributions by a county treasurer of excess commissions cause a school district's property tax collection rate to exceed 98%, and allows the Department to apply excess distribution amounts to the following school year.

Declares an emergency clause citing foundation funding as the minimum needed for educational adequacy and stating that recoupment of excess collections would jeopardize school district financial stability for the 2010-2011 and 2011-2012 school years.

Provides emergency effective date upon Governor approval, expiration of veto period without action, or override of gubernatorial veto.