HB1074

House Bill 1074 amends the management and utilization of the Arkansas Property Tax Relief Trust Fund. The bill explicitly mandates that the primary purpose of the fund is to provide property tax relief. It introduces a stricter legislative requirement for utilizing these funds for purposes outside of direct property tax relief. Specifically, the bill requires a three-fourths supermajority vote in both the Arkansas House of Representatives and the Arkansas Senate to authorize the use of these funds for any purpose other than property tax relief. This change is intended to preserve the integrity of the fund for its namesake purpose and create a higher barrier for reallocating those revenues.