SB577

Senate Bill 577 amends Arkansas law to mandate that the Department of Finance and Administration (DFA) provide formal notification to local governments regarding the pending expiration of local sales and use taxes. Under the bill, the DFA must notify the relevant county quorum courts or city governing bodies at least 120 days before the expiration of various capital improvement and economic development sales taxes. The required notification must specify the tax's current expiration date and outline the statutory requirements for extending the tax. This legislation applies to multiple sections of the Arkansas Code concerning county and city sales taxes for capital improvements, community college projects, and economic development initiatives. The primary purpose is to ensure that local jurisdictions are alerted in advance, potentially preventing the unintentional lapse of local revenue streams.