Shown verbatim: the complete text as captured from the official PDF posted by the Arkansas General Assembly, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
Stricken language would be deleted from and underlined language would be added to present law.
1 State of Arkansas As Engrossed: H4/8/25
2 95th General Assembly
A Bill
3 Regular Session, 2025 HOUSE BILL 1894
4
5 By: Representative Beaty Jr.
6 By: Senator Gilmore
7
8 For An Act To Be Entitled
9 AN ACT TO ESTABLISH A METHOD OF VALUATION FOR REAL
10 PROPERTY USED FOR AFFORDABLE HOUSING; TO ESTABLISH A
11 METHOD OF VALUATION FOR CERTAIN REAL PROPERTY UNDER
12 ARKANSAS CONSTITUTION, ARTICLE 16, � 5; AND FOR OTHER
13 PURPOSES.
14
15
16 Subtitle
17 TO ESTABLISH A METHOD OF VALUATION FOR
18 REAL PROPERTY USED FOR AFFORDABLE
19 HOUSING; AND TO ESTABLISH A METHOD OF
20 VALUATION FOR CERTAIN REAL PROPERTY
21 UNDER ARKANSAS CONSTITUTION, ARTICLE 16,
22 � 5.
23
24 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
25
26 SECTION 1. DO NOT CODIFY. Legislative intent.
27 The General Assembly intends for this act to ensure the fair and
28 equitable assessment of all real property used for housing, including without
29 limitation real property used for affordable housing.
30
31 SECTION 2. Arkansas Code � 26-26-1202, concerning valuation procedures
32 for property, is amended to add an additional subsection to read as follows:
33 (j) The Assessment Coordination Division shall promulgate rules,
34 including guidelines, for the fair and equitable assessment of real property
35 that has federally imposed or state-imposed restrictions that use rent
36 limitations, operations requirements, or any other restrictions on the real
*JLL321* 04-08-2025 09:46:36 JLL321
As Engrossed: H4/8/25 HB1894
1 property that are connected to:
2 (1) The real property being eligible for an income tax
3 credit under 26 U.S.C. � 42;
4 (2) Real property constructed with the use of the United
5 States Department of Housing and Urban Development HOME Investment
6 Partnerships Program; or
7 (3) Real property constructed with the use of incentives
8 provided by the United States Department of Agriculture under 42 U.S.C. �
9 1485.
10
11 SECTION 3. DO NOT CODIFY. Rules.
12 (a) When adopting the initial rules required under this act, the
13 Assessment Coordination Division shall file the final rules with the
14 Secretary of State for adoption under � 25-15-204(f):
15 (1) On or before January 1, 2026; or
16 (2) If approval under � 10-3-309 has not occurred by January 1,
17 2026, as soon as practicable after approval under � 10-3-309.
18 (b) The division shall file the proposed rules with the Legislative
19 Council under � 10-3-309(c) sufficiently in advance of January 1, 2026, so
20 that the Legislative Council may consider the rules for approval before
21 January 1, 2026.
22
23 /s/Beaty Jr.
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2 04-08-2025 09:46:36 JLL321Every fact on this page links to its source, starting with the official bill record.