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AR HB1061
Bill
Status
2/14/2023
Primary Sponsor
Joint Budget Committee
Click for details
AI Summary
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Appropriates $29,372,099 in general revenues to cities and $190,000,000 in special revenues to cities for fiscal year 2023-2024 through the Municipal Aid Fund
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Appropriates $21,428,616 in general revenues to counties and $205,000,000 in special revenues to counties for fiscal year 2023-2024 through the County Aid Fund
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Appropriates $10,000,000 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
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Appropriates $300,000,000 from the Property Tax Relief Trust Fund for statewide property tax reduction to counties, plus $2,000,000 each to counties and municipalities from Property Tax Relief Fund revenues if sufficient funds remain after required reimbursements as of December 31, 2023
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Authorizes loans of $3,517,657 to the Municipal Aid Fund and $1,906,079 to the County Aid Fund from the Budget Stabilization Trust Fund on July 1 each fiscal year to assist with local government cash flow needs
Legislative Description
An Act To Make An Appropriation For State Turnback For Counties And Municipalities By The Office Of The Treasurer Of State For The Fiscal Year Ending June 30, 2024; And For Other Purposes.
Last Action
Notification that HB1061 is now Act 62
2/14/2023