HB1061

House Bill 1061 is an appropriation act that provides funding for state turnback distributions to Arkansas counties and municipalities for the fiscal year ending June 30, 2024. The bill authorizes the Office of the Treasurer of State to distribute general and special revenues, including highway turnback and severance tax proceeds, to local governments. It establishes specific appropriation amounts for cities and counties from various state funds, including the Municipal Aid Fund, the County Aid Fund, and the Property Tax Relief Trust Fund. Additionally, the bill outlines provisions for cash flow loans from the Budget Stabilization Trust Fund to support municipalities and counties early in the fiscal year. It includes mechanisms for handling unanticipated special revenues and sets rules for the carry-forward of unexpended funds. Finally, the bill declares an emergency to ensure these appropriations take effect by July 1, 2023, to maintain the continuity of essential local government services.