AR HB1037

Appropriates $29,372,099 in general revenues to cities and $190,000,000 in special revenues to cities for fiscal year 2022-2023 through the Municipal Aid Fund.

Appropriates $21,428,616 in general revenues to counties and $205,000,000 in special revenues to counties for fiscal year 2022-2023 through the County Aid Fund.

Authorizes $20,000,000 for unanticipated special revenues from mineral sales, oil and gas leases on federal military lands, and other unexpected revenues to be distributed to eligible counties.

Appropriates $300,000,000 from the Property Tax Relief Trust Fund for statewide property tax reduction distribution to counties, plus $2,000,000 each to counties and cities subject to certification of sufficient fund balances.

Establishes procedures for loans to cities and counties from the Budget Stabilization Trust Fund ($3,517,657 to Municipal Aid Fund and $1,906,079 to County Aid Fund) to assist with cash flow needs early in the fiscal year, effective July 1, 2022.