AR SB898

Amends Arkansas Code § 26-37-203(b)(2) to clarify that persons with mental incapacity, minors, and members of the United States Armed Forces during time of war have a 2-year period after their disability is removed, they reach majority, or they are released from active duty to commence legal action regarding tax sale redemption rights.

Modifies Arkansas Code § 26-37-305 to specify that land owned by persons under mental incapacity, minors, or members of the United States Armed Forces during time of war that is sold for taxes may be redeemed within 2 years after the disability is removed, the minor reaches majority, or the person is released from active duty.

Requires purchasers of land held under tax title to account for all timber, gas, oil, or mineral substances taken from the land and to protect the rights of persons under disability.

Requires any person desiring to extract timber, gas, oil, or mineral substances from tax title land within 10 years of the tax sale to first execute and file a bond approved by the county clerk to cover the value of substances removed.

Establishes penalties of fines between $25 and double the value of illegally removed substances for persons who remove resources from tax title land without executing the required bond, with exemption for timber removed from land cleared in good faith for cultivation.