Senate Revenue and Tax

January 29, 2025

Senate Revenue and Tax Committee Meeting Notes Date: January 29, 2025

Subject: Review of Required Agency Reports from the Department of Finance and Administration (DFA)

Retain

The committee agreed to retain the following DFA reports:

• Property Tax Relief Trust Fund Report
• Office of Arkansas Lottery Report
• Biennial Report of Boards and Commission Attendance
• Required Rule Promulgating Report
• Pending Litigation, Claims, and Assessments Report
• Tax Litigation Resolved in Previous Calendar Year Report
• Taxable Property and Assessed Value Report
• Size of Fleet and Cost-Effectiveness of State-Owned Vehicles Report

Drop

The committee agreed to drop the following DFA reports:

• Annual Report of Arkansas Involvement with Multi-State Tax Commission
• Tax Law Changes, Compliance, and Issues Report
• Number of Individuals Granted Automatic or Expedited Licensure Report
• Employees in Extra Help Positions for More than 7 Months Report
• Federal Income Tax Changes Report
• ABC Permits, Alcohol Manufacturing, Taxes, and Fees Report

Held

The committee held for further discussion the following item:

• Changes to Formula Used to Value Land and Capitalization Rate