SB488

Senate Bill 488 seeks to amend Arkansas law governing real property taxation by repealing an obsolete reporting requirement. Specifically, the bill removes a provision in Arkansas Code § 26-26-310(b)(2)(D) that mandated the Chief Fiscal Officer of the State to report revenue to the Property Tax Relief Trust Fund for the calendar year 2019. The purpose of this legislation is to clean up the state code by eliminating language pertaining to a past fiscal event that is no longer applicable. The bill does not change ongoing reporting requirements for years following 2019. It is essentially a housekeeping measure intended to streamline statutory language.