HB1033
An Act For The Office Of The Treasurer Of State - Refund Of Local Taxes Appropriation For The 2026-2027 Fiscal Year.
Last Action (April 1, 2026): REPORTED CORRECTLY ENGROSSED
Sponsors
AI-Generated Summary
House Bill 1033 is a budgetary act that provides appropriations for the Arkansas Office of the Treasurer of State for the 2026-2027 fiscal year. The primary purpose of the bill is to authorize the distribution of $1.1 billion for city shares and $990 million for county shares of local sales and use taxes. These funds are drawn from the Local Sales and Use Tax Trust Fund to fulfill state obligations to municipalities and counties. The bill mandates strict compliance with state fiscal control laws, procurement regulations, and budgetary procedures. Additionally, the bill includes an emergency clause to ensure the appropriations take effect on July 1, 2026, to prevent potential disruptions in the administration of essential government programs.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries of this bill are local governments across Arkansas, specifically cities and counties that rely on the distribution of local sales and use tax revenues collected by the state. These entities depend on these funds to support municipal and county services, public infrastructure projects, and general administrative functions.
Who Might Suffer?
There are no groups or entities directly negatively impacted by this bill. This legislation is a standard appropriations measure intended to facilitate the distribution of tax revenue that has already been collected and is legally owed to local jurisdictions.
Get Notified
Receive an email when this bill's status changes.