Arkansas § 14-164-703 - Payments in lieu of taxes.
Full text of Arkansas Arkansas Code of 1987 Annotated § 14-164-703 — Payments in lieu of taxes., with citation guidance and answers to common questions.
§ 14-164-703. Payments in lieu of taxes.
If the Arkansas Development Finance Authority or a county or municipality in the state and a lessee under a lease or a purchaser under a contract for sale enter into an agreement for payments in lieu of ad valorem taxes, each agreement shall provide, or under this subchapter shall be interpreted as providing, that all in-lieu-of-taxes payments shall be distributed to the local political subdivisions that would have received ad valorem tax payments on the industrial facilities if the interest involved had not been exempt from ad valorem taxes in the proportions that the millage levied by each affected local political subdivision bears to the millage levied by all affected political subdivisions, unless all such local political subdivisions, including without limitation the affected school district or districts, shall otherwise agree. This section does not affect the rights or obligations of any of the parties to an agreement under this subchapter that exists on the date of enactment of this subchapter providing for payments in lieu of ad valorem taxes.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 14-164-703
What does Arkansas Code of 1987 Annotated § 14-164-703 cover?
Section 14-164-703 ("Payments in lieu of taxes.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 14-164-703?
A common citation format is "Arkansas Code of 1987 Annotated § 14-164-703" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 14-164-703 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.