AR HB1136

Appropriates $1,500,000,000 to the Office of the Treasurer of State for distribution of Amendment 74 property tax funds to counties for the fiscal year ending June 30, 2020.

Funds are payable from the Uniform Tax Rate Trust Fund and must be redistributed to counties as required by Amendment 74 to the Arkansas Constitution.

Disbursement of funds is subject to compliance with state procurement law, accounting procedures, revenue stabilization law, and Department of Finance and Administration regulations.

Declares an emergency clause with an effective date of July 1, 2019, stating the appropriation is essential to agency operations and that delay could harm proper administration of governmental programs.

Requires all funds to be disbursed in compliance with legislative intent as evidenced by budget materials, letters, and testimony from the Arkansas Legislative Council or Joint Budget Committee.