The bill amends the laws governing real property taxation in Arkansas by repealing an outdated reporting requirement related to property tax revenue for the year 2019. Specifically, it removes the provision that mandated the Chief Fiscal Officer of the State to certify the total amount of moneys credited to the Property Tax Relief Trust Fund for that year and subsequent years. This includes the requirement for monthly certifications and the determination of estimated funding needs for distributions.

By eliminating these obsolete requirements, the bill streamlines the reporting process and removes unnecessary administrative burdens. The repeal is aimed at modernizing the property tax revenue reporting framework, ensuring that it reflects current practices and needs.

Statutes affected:
SB 488: 26-26-310(b)
Act 610: 26-26-310(b)