Arkansas legislation · 95th General Assembly (2025 Regular)
Arkansas SB394: TO AMEND THE LAW CONCERNING THE ALLOCATION, DISTRIBUTION, AND USE OF REVENUES DERIVED FROM A COUNTY SALES AND USE TAXES FOR CAPITAL IMPROVEMENTS
Status: Failed, May 5, 2025
What the bill says
An act to be entitled an act to amend the law concerning county sales and use taxes for capital improvements; to allow a county to refer to the voters a change in the allocation or distribution of revenues from a county sales and use tax for capital improvements; to prohibit a municipality from pledging revenues from a county sales and use tax for capital improvements to repay bonds; and for other purposes. subtitle to amend the law concerning the allocation, distribution, and use of revenues derived from a county sales and use taxes for capital improvements.
From the introduced text:
An Act To Be Entitled AN ACT TO AMEND THE LAW CONCERNING COUNTY SALES AND USE TAXES FOR CAPITAL IMPROVEMENTS; TO ALLOW A COUNTY TO REFER TO THE VOTERS A CHANGE IN THE ALLOCATION OR DISTRIBUTION OF REVENUES FROM A COUNTY SALES AND USE TAX FOR CAPITAL IMPROVEMENTS; TO PROHIBIT A MUNICIPALITY FROM PLEDGING REVENUES FROM A COUNTY SALES AND USE TAX FOR CAPITAL IMPROVEMENTS TO REPAY BONDS; AND FOR OTHER PURPOSES. Subtitle TO AMEND THE LAW CONCERNING THE ALLOCATION, DISTRIBUTION, AND USE OF REVENUES DERIVED FROM A COUNTY SALES AND USE TAXES FOR CAPITAL IMPROVEMENTS. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. Arkansas Code § 14-164-337(a), concerning the pledge of preexisting sales and use tax under the Local Government Bond Act of 1985, is amended to read as follows: (a) In Except as provided in § 26-74-214(c)(1)(B), in any municipality or county which has in effect the levy of a local sales and use tax, the legislative body may, by ordinance, pledge all or a specified portion of the existing tax to retire its bonds as provided in this subchapter. SECTION 2. Arkansas Code § 26-74-208(c), concerning the form of the *JLL049* 03-13-2025 14:33:35 JLL049 As Engrossed: S3/13/25 SB394 ballot for a county sales and use tax for capital improvements, is amended …
Sponsors
- (R, 32) · primary sponsor