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HB1050
HB1050: Funding for Amendment 74 Property Tax Distribution
Last scannedAug 22, 2026, 3:15 AM
In one sentence
This law gives the Office of the Treasurer of State $1.8 billion to share property tax money with Arkansas counties during the fiscal year ending June 30, 2027.
What it does
- Sets aside $1,800,000,000 from the Uniform Tax Rate Trust Fund for distribution to counties.
- Requires the Office of the Treasurer of State to manage and send these funds as required by Amendment 74.
- States that spending must follow state laws on procurement, budgeting, revenue stabilization, and salaries.
Who it affects
- The Office of the Treasurer of State
- Counties across Arkansas receiving property tax funds
Limits and unknowns
- This law only covers the fiscal year ending on June 30, 2027.
- The exact amount each county receives is not listed in this text and depends on other rules or formulas.
- Funds can only be spent if they follow strict state financial laws.
Plain language
Terms to know
- Appropriation
- An official act by lawmakers to set aside money for a specific purpose.
- Amendment 74
- A change to the Arkansas Constitution that requires property tax funds be shared with counties.
- Fiscal Year
- The one-year period used for government budgeting, which runs from July 1, 2026, to June 30, 2027.
Official record
Sources
Official summary
AN ACT FOR THE OFFICE OF THE TREASURER OF STATE - AMENDMENT 74 PROPERTY TAX APPROPRIATION FOR THE 2026-2027 FISCAL YEAR.