AR HB1863

Increases the homestead property tax credit from $350 to $375 per assessment year, effective for assessment years beginning January 1, 2019.

Requires the Chief Fiscal Officer to certify monthly to the State Treasurer the total moneys credited to the Property Tax Relief Trust Fund for calendar year 2019.

Mandates a one-time transfer of $8,246,573 from the Property Tax Relief Trust Fund to the County Voting System Grant Fund by July 1, 2019, if excess funds exist beyond amounts needed for 2020 distributions.

Declares an emergency based on the finding that the Property Tax Relief Trust Fund has excess revenues that should be utilized more efficiently, including assisting counties with voting machine costs.

Emergency clause makes the act effective immediately upon gubernatorial approval, expiration of the veto period, or veto override.