TO AMEND THE LAW CONCERNING THE MARKET VALUE OF CERTAIN SURPLUS PROPERTY ACQUIRED BY THE STATE HIGHWAY COMMISSION.

HB 1486 amends Arkansas law governing how the State Highway Commission handles surplus property acquired for highway projects. It specifically changes the process for reacquiring partial parcels (remnants) of land that become surplus, requiring the Commission to determine current market value using three certified appraisers instead of a fixed price. This directly affects landowners whose property was partially acquired by the state for highway use but now has surplus portions. The bill ensures reacquisition payments reflect current market conditions for these partial parcels, rather than the original acquisition price. The change applies to all future reacquisition actions under Arkansas Code § 27-67-322(c).