AR SB579

Reduces the number of appraisers required to determine market value of surplus real property from three (3) to two (2) appraisers certified or licensed under the Arkansas Appraiser Licensing and Certification Act.

Allows market value determination by a single appraiser (instead of two) when the Arkansas Department of Transportation's current assessment of the property is $50,000 or less.

Eliminates the option to purchase surplus capital assets that was previously authorized under existing law.

Defines "capital asset" as real property acquired and improved by the State Highway Commission with offices, shops, storage yards, auxiliary facilities, or property purchased as an uneconomic remnant.