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AR HB2047
Bill
Status
3/6/2017
Primary Sponsor
Laurie Rushing
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AI Summary
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Reduces the percentage of deed tax revenues credited to the Arkansas Natural and Cultural Resources Grants and Trust Fund from 80% to 60% of the net amount.
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Allocates 20% of net deed tax revenues to the Arkansas Housing Trust Fund, with 90% available for any purpose under § 15-5-1708.
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Dedicates 10% of the Housing Trust Fund revenues specifically for providing adequate, safe, and affordable housing for veterans.
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Allows unused veteran housing funds to be redirected to general Housing Trust Fund purposes at the end of each fiscal year.
Legislative Description
To Amend The Distribution Of Revenues Derived From The Additional Tax Levied On Deeds, Instruments, And Writings; And To Provide Funding For The Arkansas Housing Trust Fund.
Last Action
Recommended for study in the Interim by Joint Interim Committee on INSURANCE & COMMERCE- HOUSE
3/14/2017