AR SB488

Repeals Arkansas Code § 26-26-310(b)(2)(D), an obsolete provision requiring monthly reporting of Property Tax Relief Trust Fund revenue to the State Treasurer for calendar year 2019

Removes the requirement for the Chief Fiscal Officer to certify to the State Treasurer the total amount of moneys credited to the Property Tax Relief Trust Fund since April 9, 2019, by the last business day of each month

Eliminates provisions related to a one-time transfer of $8,246,573 to the County Voting System Grant Fund by July 1, 2019, and conditions for when that transfer should occur

Removes language regarding transfers of excess Property Tax Relief Trust Fund revenues to the Catastrophic Reserve Fund

Approved April 11, 2023