The bill amends the law regarding the redemption of tax-delinquent parcels in Arkansas, specifically addressing penalties associated with such redemptions. It modifies Arkansas Code 26-37-302(a) by removing the blanket ten percent penalty for each year of delinquency, except for cases outlined in a new subsection (e). This change aims to provide a more equitable process for individuals redeeming tax-delinquent properties.

Additionally, the bill introduces provisions to exempt disabled veterans from the previously mentioned penalty when redeeming a tax-delinquent parcel they own. To qualify for this exemption, a disabled veteran must submit a specific letter to the Commissioner of State Lands and fulfill all other requirements for redemption. This amendment recognizes the unique circumstances faced by disabled veterans and seeks to alleviate their financial burden in the tax redemption process.

Statutes affected:
Old version HB1400 Original - 2-4-2025 01:59 PM: 26-37-302(a), 26-37-302
Old version HB1400 V2 - 2-20-2025 10:56 AM: 26-37-302(a), 26-37-302
HB 1400: 26-37-302(a), 26-37-302
Act 259: 26-37-302(a), 26-37-302