AR HB2157

Authorizes the State Highway Commission to enter into agreements with county judges and municipal authorities to exchange highways between the state highway system and county or municipal highway systems.

Requires that any highway exchange include all property interests held by the transferring party, enabling transfer of land in fee simple.

Mandates that all transfer agreements be recorded in the minutes of the State Highway Commission and in the appropriate county court record.

Clarifies notification procedures for former property owners when surplus highway property is offered for reacquisition, allowing notification by written notice at last known address or by newspaper publication one time per week for three consecutive weeks.

Establishes a 60-day option period for former owners or their heirs to reacquire surplus property at the original acquisition price for entire parcels or at market value for remnants, with market value determined by three certified or licensed appraisers.