AR HB1142

Appropriates $1,250,000,000 to the Office of the Treasurer of State from the Uniform Tax Rate Trust Fund for fiscal year 2012-2013.

Funds are designated for redistribution of property tax revenues to counties as required by Amendment 74 to the Arkansas Constitution.

Disbursement of funds must comply with the State Procurement Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and other applicable fiscal control laws.

Act becomes effective July 1, 2012 with emergency clause due to constitutional one-year appropriation requirement and need for timely agency operation.

Requires funds be used in compliance with stated reasons for the appropriation as documented in budget manuals, agency requests, and legislative minutes.