AR SB293

Allows the Department of Finance and Administration to disclose sales and use tax credit, refund, and rebate information to city and county officials for taxes paid to those municipalities under five specific code sections (§ 26-52-427, § 26-52-447, § 26-52-523, § 26-53-138, and § 26-53-149).

Requires taxpayers claiming these credits, refunds, or rebates to provide notification to the executive heads of each municipality and county that levied the tax subject to the credit, refund, or rebate.

Establishes escalating penalties for taxpayers failing to notify local governments: 33% of the claimed amount for the first violation, 50% for the second violation, and 100% plus three-year ineligibility for the third violation.

Mandates the Department of Finance and Administration prescribe notification forms and include statements on tax forms informing taxpayers of their notification obligations to local governments.

Becomes effective on the first day of the calendar quarter following the bill's enactment, with the Department required to adopt implementing rules by October 1, 2021.