AR HB1543

Changes the Assessment Coordination Division's biennial report requirement to an annual report due by June 15 of each year to the Governor and Legislative Council.

Requires the annual report to be in tabular form, organized by county and category, showing all taxable property in the state and its assessed value.

Mandates the report disclose and describe any new guidelines issued by the division and any updates or changes to guidelines that are at least 10 years old.

Prohibits new or updated assessment guidelines from taking effect until after the division reports the guideline to the Legislative Council in the annual report.

Specifies the act does not authorize property assessment or raise ad valorem taxes, but merely codifies the division's reporting requirements to the General Assembly.