The bill amends existing laws regarding the collection of real and personal property taxes in Arkansas. It allows title insurance agents, title insurers, or title companies to pay real property taxes when issuing a title. Specifically, it modifies Arkansas Code 26-35-601(b) to clarify that a county collector may accept payment of general real estate taxes without requiring personal property taxes due, except under certain conditions outlined in subdivisions (c)(2)-(4).

Additionally, the bill introduces new provisions in Arkansas Code 26-35-601(c)(3) that require county collectors to respond to requests for statements of real estate taxes owed within three business days. If a county collector fails to respond, they must accept payment of real estate taxes without requiring related personal property taxes. This change aims to streamline the process of property tax collection during real estate transactions and ensure timely communication between county collectors and those facilitating property transfers.

Statutes affected:
Old version HB1274 Original - 1-27-2025 04:16 PM: 26-35-601(c)
Old version HB1274 V2 - 3-10-2025 11:14 AM: 26-35-601(b), 26-35-601(c)
HB 1274: 26-35-601(c)
Act 521: 26-35-601(b), 26-35-601(c)