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AR HB1027
Bill
Status
3/3/2022
Primary Sponsor
Joint Budget Committee
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AI Summary
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Appropriates $1,750,000,000 from the Uniform Tax Rate Trust Fund to the Office of the Treasurer of State for redistribution of property tax funds to counties as required by Amendment 74 to the Arkansas Constitution
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Distribution applies to the fiscal year ending June 30, 2023
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Disbursement of funds must comply with the State Procurement Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, Regular Salary Procedures and Restrictions Act, and other applicable fiscal control laws
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Funds must be used in accordance with stated reasons for adoption as documented in budget manuals, letters, and official minutes of the Arkansas Legislative Council or Joint Budget Committee
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Effective July 1, 2022
Legislative Description
An Act For The Office Of The Treasurer Of State - Amendment 74 Property Tax Appropriation For The 2022-2023 Fiscal Year.
Last Action
Notification that HB1027 is now Act 116
3/3/2022