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AR HB1109

Bill

Official Source

Status

Passed

2/9/2021

Primary Sponsor

Jon Eubanks

Click for details

Origin

House of Representatives

93rd General Assembly (2021 Regular)

AI Summary

  • Amends Arkansas Code § 18-28-213(c)(2) regarding deposit of funds under the Unclaimed Property Act
  • Changes the annual transfer amount from "all" unclaimed funds to a fixed amount of $18,000,000 from remaining funds collected and held for a full three (3) years
  • Transfer to general state revenues occurs at least one (1) time each fiscal year
  • Amount transferred is reduced by any amounts required to be transferred to the State Central Services Fund or its successor fund account
  • Approved February 9, 2021

Legislative Description

To Amend The Law Concerning The Deposit Of Funds By The Unclaimed Property Act.

Last Action

Notification that HB1109 is now Act 86

2/9/2021

Committee Referrals

Revenue & Taxation2/1/2021
Revenue and Taxation1/11/2021

Full Bill Text

No bill text available