AR
Arkansas House Bill HB1224

Arkansas 2023 Regular Session

Arkansas House Bill HB1224

Introduced
1/24/23  
Refer
1/24/23  
Report Pass
2/2/23  
Engrossed
2/6/23  
Refer
2/6/23  
Report Pass
2/22/23  
Enrolled
2/28/23  
Chaptered
3/2/23  

Caption

To Allow A Redemption Deed Or Sale Deed To Be Canceled And A Penalty Imposed If The Payment Instrument Used To Redeem Or Purchase Tax-delinquent Property Fails Or Is Dishonored.

Impact

The enactment of HB 1224 will significantly impact state laws by changing how tax-delinquent properties are handled. Specifically, it empowers the Commissioner of State Lands with the authority to cancel deeds associated with failed payment instruments. This means that if a buyer's payment fails due to insufficient funds or a stopped payment, the Commissioner can easily invalidate the transaction, thus protecting the state's financial interests and reducing the burden of unresolved tax debts.

Summary

House Bill 1224 amends existing laws concerning the redemption or sale of tax-delinquent property by allowing the Commissioner of State Lands to cancel redemption deeds or sale deeds if the payment instruments used for such transactions are dishonored. The bill aims to streamline the process surrounding tax-delinquent properties and introduces penalties for those whose payment methods fail. This amendment is designed to provide clarity and protection for both the state and potential buyers engaging in these transactions.

Sentiment

The general sentiment surrounding HB 1224 appears to be supportive, particularly among legislators who prioritize fiscal responsibility and accountability in government transactions. The fact that the bill passed with unanimous support in the voting indicates a strong consensus about the necessity for these amendments. Lawmakers recognize that addressing issues related to dishonored payments is a crucial step in managing public assets effectively.

Contention

Despite the overall support, there may be some concerns regarding the bill's implications for individuals attempting to purchase tax-delinquent properties. Potential buyers might feel apprehensive about the strict penalties imposed for dishonored payment instruments. Critics could raise issues about how these new provisions may disproportionately affect low-income buyers who might face challenges with payment methods. However, these concerns did not seem to have significantly affected the bill's passage, as it ultimately received a favorable vote with 33 yeas and no nays.

Companion Bills

No companion bills found.

Previously Filed As

AR HR1016

To Authorize The Introduction Of A Nonappropriation Bill To Require A Digital Asset Mining Business To Provide Notification Before Purchasing Land Or A Building Or Beginning Construction Of A Digital Asset Mining Facility.

AR SR15

To Authorize The Introduction Of A Nonappropriation Bill To Require A Digital Asset Mining Business To Provide Notification Before Purchasing Land Or A Building Or Beginning Construction Of A Digital Asset Mining Facility.

AR SB26

An Act To Make An Appropriation For The Payment Of Approved Claims.

AR SB78

To Amend The Arkansas Data Centers Act Of 2023; To Prohibit Foreign-party-controlled Ownership Of A Digital Asset Mining Business; And To Declare An Emergency.

AR HB1036

An Act For The Commissioner Of State Lands Appropriation For The 2024-2025 Fiscal Year.

AR SB79

To Amend The Arkansas Data Centers Act Of 2023; To Provide For The Regulation Of Digital Asset Mining Businesses; And To Declare An Emergency.

AR SR16

To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023 And To Amend The Requirements For A Digital Asset Mining Business Or Business Using A Blockchain Network.

AR HR1015

To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023 And To Amend The Requirements For A Digital Asset Mining Business Or Business Using A Blockchain Network.

AR HR1009

To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023 And To Prohibit Foreign-party-controlled Ownership Of A Digital Asset Mining Business.

AR SR5

To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023 And To Prohibit Foreign-party-controlled Ownership Of A Digital Asset Mining Business.

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