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AR HB1074
Bill
Status
2/18/2025
Primary Sponsor
David Ray
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AI Summary
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Amends the Property Tax Relief Trust Fund to explicitly designate property tax relief as its primary purpose, while allowing funds to be used for other purposes authorized by the General Assembly
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Requires a three-fourths (3/4) supermajority vote in both chambers of the General Assembly to authorize any use of Property Tax Relief Trust Fund money for purposes other than property tax relief
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The fund continues to receive revenues from existing sales and use tax sources under Arkansas Code sections 26-52-302(c), 26-52-317(c)(1)(B), 26-52-319(a)(2)(B), 26-53-107(c), 26-53-145(c)(1)(B), 26-53-148(a)(2)(B), and 26-56-224(c)(2)
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Approved on February 18, 2025 as Act 121 of the Regular Session
Legislative Description
To Amend The Property Tax Relief Trust Fund; And To Require A Higher Vote Threshold For Using Moneys In The Property Tax Relief Trust Fund For Purposes Other Than Property Tax Relief.
Last Action
Notification that HB1074 is now Act 121
2/18/2025