AR HB1034

Appropriates $1,750,000,000 from the Uniform Tax Rate Trust Fund to the Office of the Treasurer of State for redistribution of property tax funds to counties as required by Amendment 74 to the Arkansas Constitution for fiscal year 2024-2025

Requires compliance with the State Procurement Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, Regular Salary Procedures and Restrictions Act, and other fiscal control laws in disbursement of funds

Directs funds to be used in compliance with stated reasons for the act as evidenced by Agency Requests, Executive Recommendations, Legislative Recommendations in budget manuals, and official minutes of the Arkansas Legislative Council or Joint Budget Committee

Declares an emergency clause making the act effective July 1, 2024, stating that the Constitution prohibits appropriations for more than one year and delayed effectiveness could harm proper administration of governmental programs

Bill approved on April 25, 2024