Senate Bill 56 Summary

• Appropriates $3,056,350 from the Miscellaneous Agencies Fund Account for the Assessment Coordination Department's personal services and operating expenses for fiscal year 2016-2017.

• Establishes a maximum of 36 regular employees including 1 director at $106,866 annually, 1 attorney specialist, 1 deputy director, 4 division administrators, 5 property assessment coordinators, 12 auditor supervisors, and other support staff.

• Appropriates $15,750,000 from the Arkansas Real Property Reappraisal Fund to pay counties and professional companies for real property reappraisal costs, limited to a maximum of $7 per parcel per year.

• Authorizes $55,000 from cash funds and $60,000 from the County Assessors' Continuing Education Trust Fund for operating expenses and continuing education programs.

• Permits the Director to transfer up to $1,500,000 from the Miscellaneous Agencies Fund to the Real Property Reappraisal Fund and to reallocate funds between operating expenses and assessor training programs, with Chief Fiscal Officer approval.