AR HB1048

Appropriates $29,372,099 in general revenues to cities and $190,000,000 in special revenues to cities for fiscal year 2020-2021 through the Municipal Aid Fund.

Appropriates $21,428,616 in general revenues to counties and $205,000,000 in special revenues to counties for fiscal year 2020-2021 through the County Aid Fund, including Highway Turnback and Severance Taxes.

Appropriates $20,000,000 for unanticipated special revenues from mineral, oil, and gas sales on federal military lands to be distributed to counties as allocated by law.

Appropriates $300,000,000 from the Property Tax Relief Trust Fund for statewide property tax reduction to counties, plus $4,000,000 to counties and $2,000,000 to cities for additional Property Tax Relief Fund distributions.

Establishes loans of $3,517,657 to the Municipal Aid Fund and $1,906,079 to the County Aid Fund from the Budget Stabilization Trust Fund for cash flow assistance, and amends Arkansas Code § 26-64-104(a)(1) to change the reporting deadline for cities and counties from June 30 to March 15.