AR HB1464

Amends Arkansas Code § 26-75-604 to modify how cities handle tax revenues from gross receipts taxes on hotels and restaurants dedicated to parks development.

Requires that when city voters approve a parks tax, the proceeds be deposited into a special parks fund instead of the city advertising and promotion fund.

Parks tax funds shall be disbursed by the mayor upon approval of the city council using the tax collection mechanism under § 26-75-603.

Preserves the city advertising and promotion fund for parks tax revenues that are pledged to bond repayment under §§ 26-75-606(b)(1) and (2) or 26-75-613(a)(2), with distribution by the advertising and promotion commission.