AR HB1023

Appropriates $29,372,099 in general revenues to cities and $215,000,000 in special revenues to cities through the Municipal Aid Fund for fiscal year 2024-2025.

Appropriates $21,428,616 in general revenues to counties and $230,000,000 in special revenues to counties through the County Aid Fund for fiscal year 2024-2025, including Highway Turnback and Severance Taxes.

Appropriates $15,000,000 for unanticipated special revenues to counties and $10,000,000 to cities from the sale or lease of minerals, oil and gas on federal military lands.

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 cities if sufficient funds remain as of December 31, 2024.

Authorizes loans from the Budget Stabilization Trust Fund of $3,517,657 to the Municipal Aid Fund and $1,906,079 to the County Aid Fund on July 1 of each fiscal year to assist with cash flow needs, to be repaid through monthly general revenue distributions.