This bill amends existing laws regarding local sales and use taxes in Arkansas by requiring the Department of Finance and Administration to notify local governments about impending expirations of these taxes. Specifically, it mandates that at least 120 days before the expiration of a sales and use tax, the Department must inform the relevant county quorum court or city governing body about the expiration date and the requirements for extending the tax. This notification process is outlined in several sections of the Arkansas Code, including provisions for county and city taxes for capital improvements and economic development projects.

The bill introduces new legal language to ensure that local governments are adequately informed about the status of their sales and use taxes, thereby facilitating better planning and decision-making regarding tax extensions. The notifications must include the current expiration date of the tax and specific requirements for extending it, ensuring transparency and proactive management of local tax revenues.

Statutes affected:
SB 577: 26-74-208(b), 26-74-308(b), 26-74-603(c), 26-75-208(b), 26-75-308(c), 26-82-104(b)
Act 720: 26-74-208(b), 26-74-308(b), 26-74-603(c), 26-75-208(b), 26-75-308(c), 26-82-104(b)