Arkansas House Bill HB1023

Arkansas 2024 Regular Session

• Introduced: 4/2/24
• Refer: 4/10/24
• Report Pass: 4/23/24
• Engrossed: 4/25/24
• Enrolled: 4/30/24
• Chaptered: 5/3/24
• Passed: 5/3/24

Caption

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, 2025; And For Other Purposes.

Impact

The implementation of HB 1023 would have a direct impact on state laws related to financial appropriations and the distribution of state funds to local governments. By allocating funds specifically for municipal and county support, it reinforces the commitment of the state to assist localities in managing their financial obligations. Additionally, the appropriations for property tax relief could help alleviate some financial burdens on residents and encourage smoother operations within local governments.

Summary

House Bill 1023 is an appropriation bill focused on providing financial support to counties and municipalities through state turnbacks for the fiscal year ending June 30, 2025. The bill outlines the allocation of various funds, including a significant amount for municipal aid totaling $215 million and $21.4 million for county aid. It also establishes provisions for distributing unforeseen special revenues, property tax relief, and loans to local governments to address cash flow needs.

Sentiment

The sentiment surrounding HB 1023 appears largely positive among lawmakers, who recognize the necessity of providing resources to local governments, particularly in light of their operational needs. There seems to be a broad consensus that financial support is vital for maintaining the services that local jurisdictions provide to their communities. However, it is essential to note that any apprehensions regarding the specificity of distribution formulas and financial accountability can create areas of contention.

Contention

While the bill is expected to pass with minimal opposition, discussions may arise regarding the appropriateness of the funding formulas and whether they adequately address the unique needs of different municipalities and counties. Legislators may debate the fairness of distribution, particularly concerning how the funding aligns with the varying sizes and financial conditions of local governments. Questions of transparency in the loan process for local governments and the efficacy of real property tax relief measures may also surface during legislative discussions.