The bill amends the law regarding the redemption of tax-delinquent parcels in Arkansas, specifically addressing penalties associated with this process. It modifies Arkansas Code 26-37-302(a) by removing the general ten percent penalty for each year of delinquency, except for cases involving disabled veterans. The new language clarifies that a ten percent penalty will not apply to disabled veterans when they redeem a tax-delinquent parcel they own, provided they meet certain criteria.

Additionally, the bill introduces a definition for "disabled veteran" and outlines the requirements that must be fulfilled for the exemption from penalties to apply. Disabled veterans must submit a specific letter to the Commissioner of State Lands and comply with all other redemption requirements as stipulated in Arkansas law. This legislation aims to alleviate the financial burden on disabled veterans when they seek to redeem their tax-delinquent properties.

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