Bill > HB1400

This bill amends Arkansas tax law to modify the process of redeeming tax-delinquent parcels, with a special provision for disabled veterans. Currently, when redeeming a tax-delinquent parcel, an individual must pay all delinquent taxes, 10% simple interest for each year of delinquency, a 10% penalty for each year of delinquency, and associated costs. The bill introduces an exemption for disabled veterans, defined as individuals meeting specific criteria outlined in another section of Arkansas code. When a disabled veteran seeks to redeem a tax-delinquent parcel they own, they will be exempt from the 10% annual penalty, provided they submit a qualifying letter to the Commissioner of State Lands and meet all other redemption requirements. This change aims to provide financial relief to disabled veterans who are trying to reclaim property that has fallen into tax delinquency, reducing the financial burden of penalties during the redemption process.