SB108 Summary

• Establishes 36 maximum regular employees for the Assessment Coordination Department for fiscal year 2012-2013, including 1 director at $103,733 and staff ranging from Grade C126 to C112 salary classifications.

• Appropriates $3,019,694 from the Miscellaneous Agencies Fund Account for personal services and operating expenses, including $1,607,566 for regular salaries, $490,519 for personal services matching, and $237,000 for assessor training and education incentives.

• Appropriates $55,000 from cash funds and $60,000 from the County Assessors' Continuing Education Trust Fund for maintenance, operations, conferences, and professional fees.

• Appropriates $15,750,000 from the Arkansas Real Property Reappraisal Fund for paying counties and professional reappraisal companies, with monthly certifications from the department director and fund transfers from Education, County Aid, and Municipal Aid Fund accounts capped at $14,250,000 annually.

• Limits reappraisal funding to a maximum of $7 per parcel per year and authorizes the department director to transfer up to $1,500,000 from the Miscellaneous Agencies Fund Account to the Real Property Reappraisal Fund with Chief Fiscal Officer approval.