HB1102
An Act To Make An Appropriation For State Turnback For Counties And Municipalities By The Office Of The Treasurer Of State For The Fiscal Year Ending June 30, 2026; And For Other Purposes.
AI-Generated Summary
This bill, House Bill 1102, outlines appropriations from various state funds to the Office of the Treasurer of State for distribution to counties and municipalities in Arkansas for the fiscal year ending June 30, 2026. It specifies amounts for general revenues and special revenues allocated to cities and counties from the Municipal Aid Fund and the County Aid Fund, respectively. Additionally, the bill includes appropriations for property tax relief to counties and distributions from the Property Tax Relief Trust Fund to both counties and cities. It also addresses procedures for handling unanticipated special revenues from sources like mineral rights and outlines special provisions for loans to local governments from the Budget Stabilization Trust Fund to manage cash flow. The bill also modifies the responsibility of counties for a portion of deputy prosecuting attorney salaries and establishes carry-forward procedures for unexpended funds. Finally, it emphasizes compliance with existing fiscal laws and legislative intent regarding the use of appropriated funds.
Potential Impact Analysis
Who Might Benefit?
['The primary beneficiaries of this bill are the counties and municipalities of Arkansas. The bill details specific appropriations of general and special revenues intended for distribution to these local government entities. These funds are designated for various purposes, including general aid, distribution of specific revenue streams, and property tax relief. The bill also includes provisions for loans to assist with cash flow needs and for unanticipated special revenues, further supporting the financial operations of these local governments. The inclusion of property tax relief funds directly benefits taxpayers within these jurisdictions by potentially reducing their tax burden.', 'Counties and municipalities across Arkansas are the primary beneficiaries of this bill, as it allocates substantial financial resources to them for the fiscal year ending June 30, 2026. These appropriations are drawn from various state funds, including general revenue, special revenues, and dedicated property tax relief funds. The bill outlines specific amounts for direct distribution to cities and counties, as well as provisions for unanticipated special revenues and loans to aid in managing their finances and cash flow. Furthermore, a significant portion is dedicated to property tax relief, which aims to benefit residents by potentially lowering their property tax obligations.']
Who Might Suffer?
["The bill does not appear to directly identify any specific groups or entities that would be negatively impacted. However, the appropriation of state funds inherently involves the allocation of taxpayer money. While the bill focuses on distributing funds to local governments, any redirection of state revenue could indirectly affect other state-level programs or services that might otherwise receive these funds. Furthermore, the specific stipulations within the 'Special Language' sections, particularly concerning the carry-forward of funds and the conditions for distribution from the Property Tax Relief Trust Fund, could impose administrative burdens or limitations on the intended recipients if certain criteria are not met."]