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: S2/24/25
2 95th General Assembly
A Bill
3 Regular Session, 2025 SENATE BILL 131
4
5 By: Senator J. Bryant
6 By: Representative Lundstrum
7
8 For An Act To Be Entitled
9 AN ACT TO CONFIRM THE LAW RELATED TO PROPERTY TAX
10 RELIEF; TO CONFIRM THE LAW RELATED TO THE ASSESSMENT
11 OF A HOMESTEAD BELONGING TO A PERSON WITH A
12 DISABILITY OR A PERSON SIXTY-FIVE YEARS OF AGE OR
13 OLDER; AND FOR OTHER PURPOSES.
14
15
16 Subtitle
17 TO CONFIRM THE LAW RELATED TO THE
18 ASSESSMENT OF A HOMESTEAD BELONGING TO A
19 PERSON WITH A DISABILITY OR A PERSON
20 SIXTY-FIVE YEARS OF AGE OR OLDER.
21
22 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
23
24 SECTION 1. Arkansas Code � 26-26-1120 is amended to read as follows:
25 26-26-1120. Disabled persons -- Definition.
26 (a) As used in Arkansas Constitution, Amendment 79, "disabled person"
27 means a person who:
28 (1) Is disabled for purposes of Title XIX of the Social Security
29 Act, 42 U.S.C. � 1396 et seq., as in effect on January 1, 2003, for any
30 period during the calendar year;
31 (2) Is a permanently and totally disabled veteran as defined by
32 38 C.F.R. � 4.1 et seq., Part IV, as in effect on January 1, 2003; or
33 (3) Has received permanent and total disability insurance
34 benefits for any period of time during the calendar year.
35 (b)(1) When a disabled person or a person sixty-five (65) years of age
36 or older sells his or her real property, the purchaser shall not be entitled
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As Engrossed: S2/24/25 SB131
1 to claim any reduction to the real property's assessed value.
2 (2) On or after January 1 of the year following the date of the
3 sale, the county assessor shall assess the real property at its full market
4 value, unadjusted for assessment limitations required by Arkansas
5 Constitution, Amendment 79.
6
7 SECTION 2. Arkansas Code � 26-26-1123 is amended to read as follows:
8 26-26-1123. Sale of real property.
9 (a) When a person sells his or her purchases real property, the county
10 assessor shall assess the real property at twenty percent (20%) of the
11 appraised value at the next assessment date after on the date of the transfer
12 of title to the real property.
13 (b) The owner of real property to whom title is transferred by a sale
14 is not then immediately entitled to claim any limitation on future increases
15 to the assessed value of the real property until the second assessment date
16 after the date of the transfer of title to the real property as described in
17 Arkansas Constitution, Amendment 79.
18 (c) This section does not The protections under this section and under
19 Arkansas Constitution, Amendment 79 apply to any transfer of title to real
20 property claimed as a homestead in which the owner or beneficiary of the
21 homestead retains a life-estate interest in the homestead following the
22 transfer of title to the real property.
23 (d) This section does not apply to the purchase of a homestead by a
24 person who is disabled or is sixty-five (65) years of age or older whose
25 assessed or taxable value of his or her homestead cannot be increased for any
26 reason after the date of purchase unless substantial improvements are made to
27 the homestead as provided in Arkansas Constitution, Amendment 79.
28
29 /s/J. Bryant
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2 02-24-2025 10:00:22 CEB023Every fact on this page links to its source, starting with the official bill record.