AR HB1055

Appropriates $770,000,000 to the Office of the Treasurer of State for refunding each city's share of local sales and use taxes for fiscal year 2020-2021, payable from the Local Sales and Use Tax Trust Fund.

Appropriates $750,000,000 to the Office of the Treasurer of State for refunding each county's share of local sales and use taxes for fiscal year 2020-2021, payable from the Local Sales and Use Tax Trust Fund.

Requires all fund disbursements to comply with the State Procurement Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, Regular Salary Procedures and Restrictions Act, and other applicable state fiscal control laws and Department of Finance and Administration regulations.

Declares an emergency clause making the act effective July 1, 2020, stating that delayed effectiveness could cause irreparable harm to the agency's operations and essential governmental programs.