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AR HB1070
Bill
Status
4/5/2013
Primary Sponsor
Joint Budget Committee
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AI Summary
HB 1070 Summary
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Appropriates $30,098,750 in general revenues to cities and $180,000,000 in special revenues to cities for fiscal year 2013-2014, distributed through the Municipal Aid Fund
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Appropriates $22,067,295 in general revenues to counties and $200,000,000 in special revenues to counties for fiscal year 2013-2014, distributed through the County Aid Fund
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Appropriates $20,000,000 for unanticipated special revenues from mineral, oil, and gas sales on federal military lands to be transferred to counties
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Appropriates $250,000,000 from the Property Tax Relief Trust Fund for county property tax relief and $4,000,000 each to counties and cities from Property Tax Relief Trust Fund revenues
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Establishes loan programs for cities and counties from the Budget Stabilization Trust Fund ($3,517,657 to Municipal Aid Fund and $1,906,079 to County Aid Fund) to assist with cash flow needs early in the fiscal year, with repayment from general revenue distributions
Legislative Description
An Act To Make An Appropriation For State Turnback For Counties And Municipalities By The Office Of The Treasurer Of State For The Fiscal Year Ending June 30, 2014; And For Other Purposes.
Last Action
Notification that HB1070 is now Act 927
4/5/2013