HB1641

House Bill 1641 amends Arkansas law regarding Payments in Lieu of Taxes (PILOT) agreements. For agreements entered into on or after September 1, 2023, the bill requires the lessee or purchaser to provide the county assessor with a copy of the agreement and a description of the real and personal property subject to it. However, the bill creates an exception allowing lessees or purchasers to withhold information they deem a trade secret, proprietary, or competitively sensitive. The legislation also mandates that these PILOT payments be billed by the county collector and distributed to local taxing entities in the same manner as standard ad valorem taxes.