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HB1033
Arkansas HB1033: Funding for Local Tax Refunds in Fiscal Year 2027
Last scannedAug 22, 2026, 3:15 AM
In one sentence
This law sets aside money from the state's tax trust fund to pay cities and counties their share of local sales and use taxes during the fiscal year ending June 30, 2027.
What it does
- Appropriates $1.13 billion for refunds owed to Arkansas cities.
- Appropriates $990 million for refunds owed to Arkansas counties.
- Requires that all funds come from the Local Sales and Use Tax Trust Fund.
- Directs the Office of the Treasurer of State to manage these payments based on state law assessments.
- Mandates compliance with existing state laws regarding spending, accounting, procurement, and fiscal controls.
Who it affects
- The Arkansas Office of the Treasurer of State
- Cities in Arkansas that receive local sales tax refunds
- Counties in Arkansas that receive local sales tax refunds
Limits and unknowns
- The bill does not specify the exact amount each individual city or county will receive, only the total amounts available.
- Payments are limited by other existing state laws regarding budget procedures and fiscal controls.
- While the law takes effect on July 1, 2026, it does not provide a specific date for when refunds will be sent.
Plain language
Terms to know
- Appropriation
- The official act by the legislature to set aside a specific amount of money for a government purpose.
- Fiscal Year
- A one-year period used for accounting and budgeting, which in this case runs from July 1, 2026, to June 30, 2027.
- Local Sales and Use Tax Trust Fund
- A specific state fund that holds money collected from sales taxes intended for distribution to local governments.
Official record
Sources
Official summary
AN ACT FOR THE OFFICE OF THE TREASURER OF STATE - REFUND OF LOCAL TAXES APPROPRIATION FOR THE 2026-2027 FISCAL YEAR.