HB1030

House Bill 1030 is an appropriation act for the Office of the Treasurer of State for the 2024-2025 fiscal year. Its primary purpose is to authorize the distribution of funds from the Local Sales and Use Tax Trust Fund to Arkansas cities and counties. The bill allocates $1.1 billion for the city share and $990 million for the county share of local sales and use taxes. It mandates compliance with existing state fiscal control laws, procurement regulations, and budgetary procedures for the disbursement of these funds. The legislation includes an emergency clause to ensure the appropriations are effective by July 1, 2024, preventing potential disruption to local government operations. The bill does not create new taxes but rather manages the statutory refund of collected local tax revenues back to the local jurisdictions.