AR HB1030

Appropriates $1,100,000,000 from the Local Sales and Use Tax Trust Fund to the Office of the Treasurer of State for refunding each city's share of local sales and use taxes for fiscal year 2024-2025.

Appropriates $990,000,000 from the Local Sales and Use Tax Trust Fund to the Office of the Treasurer of State for refunding each county's share of local sales and use taxes for fiscal year 2024-2025.

Total appropriation of $2,090,000,000 is authorized under Arkansas Code 26-75-307 and 26-74-307 for local tax refunds.

Requires all fund disbursements to comply with state procurement laws, accounting procedures, revenue stabilization laws, and regulations promulgated by the Department of Finance and Administration.

Declares an emergency effective July 1, 2024, finding that the appropriation is essential to agency operations and immediate preservation of public peace, health, and safety.