AR HB1053

Appropriates $1,500,000,000 to the Office of the Treasurer of State for redistribution of property tax funds to counties for the fiscal year ending June 30, 2021.

Funds are payable from the Uniform Tax Rate Trust Fund and distributed in compliance with Amendment 74 to the Arkansas Constitution.

Disbursement of funds must comply with State Procurement Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and other applicable fiscal control laws and Department of Finance and Administration regulations.

Requires that disbursed funds comply with stated reasons for adoption as documented in budget manuals, Agency Requests, Executive Recommendations, and Legislative Recommendations.

Declares an emergency effective July 1, 2020, citing the constitutional prohibition on appropriations exceeding one year and the essential need for agency operations.