Ark. panel backs retaining property tax money

    9:00 PM, Oct 17, 2013   |    comments
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    LITTLE ROCK, Ark. (AP) - An Arkansas Senate committee has advanced a proposal to allow the state to retain excess property tax revenues from a handful of Arkansas school districts.

    The Senate Education Committee on Thursday endorsed the bill that would phase out the excess money eight districts receive from levying the state-mandated property tax millage. The money would go back to the state and is intended to help make up for school facilities funding that's being taken to alleviate a hike in teacher insurance rates.

    The Senate is expected to vote on the bill Friday morning.

    House Republican Leader Bruce Westerman has filed a competing proposal that would prevent the state from retaining the money.

    The state Supreme Court last year ruled that Arkansas law currently didn't allow the state to claim the money.

    (Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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