SB43 Summary

• Establishes 36 maximum regular employees for the Assessment Coordination Department for fiscal year 2014-2015, including 1 director at $105,808 annually and various auditors, managers, and administrative staff at specified grade levels.

• Appropriates $3,103,641 from the Miscellaneous Agencies Fund for personal services and operating expenses, including $1,529,616 for regular salaries, $539,416 for personal services matching, $622,240 for operating expenses, $200,000 for assessor's school, and $150,000 for assessment education incentive.

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

• Appropriates $15,750,000 from the Arkansas Real Property Reappraisal Fund for county reappraisal costs, with a monthly certification process and cap of $14,250,000 annually per fiscal year.

• Authorizes the department director to transfer up to $1,500,000 from the Miscellaneous Agencies Fund to the Real Property Reappraisal Fund and to transfer funds between operating expense and assessor's school line items with Chief Fiscal Officer approval.