HB1066

House Bill 1066 is an appropriations act that authorizes the Office of the Treasurer of State to distribute $1,750,000,000 to Arkansas counties for the 2023-2024 fiscal year. These funds originate from the Uniform Tax Rate Trust Fund and are designated for redistribution as required by Amendment 74 to the Arkansas Constitution, which pertains to property tax collections. The bill mandates that the disbursement of these funds must strictly comply with state fiscal control laws and procurement procedures. Furthermore, the act specifies that the usage of funds should align with legislative intent as outlined in budget manuals and committee testimonies. An emergency clause is included to ensure the act takes effect by July 1, 2023, to ensure the uninterrupted operation of the funding distribution process.