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AR SB259
Bill
Status
4/22/2015
Primary Sponsor
Jeremy Hutchinson
Click for details
AI Summary
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Property owners may pay suburban improvement district assessments in full at any time after the tax becomes due, with the option to pay in annual installments not exceeding 10% per year.
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Interest shall not be collected if the tax is paid in full within 30 days after notice that the levy was made.
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Assessments continue to bear interest at rates not exceeding that required to service bonds or the maximum rate allowed by law if no bonds issue.
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Amends Arkansas Code §§ 14-92-228, 14-92-229, and 14-92-232 to clarify payment options and interest calculation procedures for suburban improvement district taxes.
Legislative Description
To Allow Property Owners To Pay In Full Suburban Improvement District Assessments Without Imposition Of Interest.
Last Action
Sine Die adjournment
4/22/2015