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.

Senate Bill 577 requires the Arkansas Department of Finance and Administration (DFA) to notify local governments about the upcoming expiration of certain local sales and use taxes. This bill directly affects the DFA and local entities such as county quorum courts and city governing bodies that levy these taxes. The DFA must provide notice at least 120 days before a tax expires. This notification will include the tax's current expiration date and the specific requirements for extending it, covering various local sales and use taxes, including those for capital improvements, community colleges, and economic development projects.