The bill amends existing laws regarding tax-delinquent property in Arkansas, specifically focusing on the restrictions for the forfeiture of tax-delinquent homesteads and real property used for farming. It introduces a provision that prevents the transmission of certain real properties to the state until the delinquent tax owed is at least fifty percent of the appraised value of the property, minus any outstanding debts or liens. This protection applies to homesteads owned by individuals aged sixty-five or older, as well as farming properties owned by Arkansas residents of the same age who reside on or near the property.

Additionally, the bill modifies the process for the publication of tax-delinquent real property lists, ensuring that notices include a reference to the new restrictions outlined in the amended Arkansas Code. The changes aim to provide greater protection for vulnerable property owners while maintaining the state's ability to collect taxes on delinquent properties.

Statutes affected:
Old version HB1330 V2 - 3-7-2023 09:44 AM: 26-37-101, 03-07-2023, 26-26-1122, 26-37-107(b)
HB 1330: 26-37-101, 03-07-2023, 26-26-1122, 26-37-107(b)