Senate Bill 192 - Technical Corrections to Arkansas Tax Code

• Clarifies that interest is waived on proposed tax assessments when hearings cannot be completed within 180 days due to reasons beyond the taxpayer's control.

• Makes Arkansas Real Property Reappraisal Fund consistent with other code sections by allowing reappraisal funding to be withheld and forfeited under specified circumstances.

• Updates multiple sections of tax law including distraint procedures, tax-delinquent land contests, and conveyance confirmations to clarify terms and make stylistic improvements.

• Revises Water Resource Conservation and Development Incentives Act provisions to clarify how tax credits are passed through to partners, members, and owners of partnerships, LLCs, S-corporations, and fiduciaries.

• Amends Local Sales and Use Tax Economic Development Project Funding Act provisions to clarify terminology and correct references throughout multiple code sections related to tax collection and administration.