TO AMEND THE LAW CONCERNING LOCAL SALES AND USE TAXES; AND TO REQUIRE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO NOTIFY LOCAL GOVERNMENTS CONCERNING SALES AND USE TAXES THAT ARE SET TO EXPIRE.

Fiscal Impact Statement Bill: SB577 Bill Subtitle: TO AMEND THE LAW CONCERNING LOCAL SALES AND USE TAXES; AND TO REQUIRE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO NOTIFY LOCAL GOVERNMENTS CONCERNING SALES AND USE TAXES THAT ARE SET TO EXPIRE. --------------------------------------------------------------------------------------------------------------------------------------- Sponsors: Sen. Petty Reps. Hall and Puryear Basic Change: Arkansas law permits local jurisdictions to adopt ordinances levying local sales and use taxes for certain purposes; however, the levy is not effective until the ordinance has been placed before voters of the jurisdiction and a majority of voters have approved the ordinance. In some instances, the ordinance may set forth a specific date that the tax levy is to expire. Local jurisdictions can also adopt ordinances to extend an expiration date of a tax under certain circumstances and these ordinances likewise must be placed before voters for approval. Various sections of the code set forth election processes and requirements a local jurisdiction must follow for elections concerning both the initial levy of a local sales and use tax and the extension