SB457 Summary

• Changes the title of Arkansas Code § 22-2-121 from "Real estate compilation" to "Real estate compilation notification" and modifies the Building Authority Division's duties to notify the Commissioner of State Lands of the Governor's approval of state agency requests to purchase or sell property.

• Amends § 22-5-209 to require state agencies to maintain and furnish records to the Commissioner of State Lands containing official recording information, legal descriptions, purchase dates, purchase prices, and the name of the agency holding title for each piece of real property.

• Creates new § 22-5-210 establishing separate real property record requirements for the Arkansas Department of Transportation, institutions of higher education, and retirement systems, with semiannual submission to the Commissioner of State Lands for information purposes only.

• Repeals § 22-5-305 eliminating the State Land Use Committee and transfers its duties to the Commissioner of State Lands, including appraisal oversight, land classification, and property disposition decisions.

• Modifies § 22-5-306 and § 22-5-307 to clarify that the Commissioner of State Lands may appoint appraisers and that land sales require Governor approval and General Assembly or Legislative Council review before disposition.