§ 19-2-301. Title

This subchapter may be known as the “Accounts and Notes Receivable Abatement Act for the State of Arkansas”.

§ 19-2-302. Purpose

The purpose of this subchapter is to establish procedures for the various state agencies, authorities, boards, commissions, departments, and institutions of higher education to charge-off or cancel uncollectible moneys owed to them.

§ 19-2-303. Definitions

As used in this subchapter: (1) “Abatement” means a complete or partial cancellation of a tax levied, special assessment, service charge, student loan, note receivable, or other amounts for which asset recognition criteria have been met; (2) “Accounts receivable” means an asset account upon the books of record reflecting amounts owing on open account from […]

§ 19-2-304. Recording of amounts due

Each state agency shall record upon its books of record the amounts due it for delivery of goods and services, licenses, unpaid taxes, student loans, special assessments, accounts receivable, and notes receivable that are recognized by the state agency as due and payable or recognized as current-year income or as an asset that is due […]

§ 19-2-305. Referring of outstanding debts for collection

(a) A state agency shall diligently and actively pursue the collection of the state agency’s accounts and notes receivable. (b) Diligently and actively pursuing the collection of these accounts may include, but is not limited to: (1) Contacting a debtor by phone or letter within a reasonable time after an account is deemed delinquent; (2) […]

§ 19-2-306. Abatement of debt

(a) If after the state agency has pursued collection of the debt owed it as set out in this subchapter and the debt or partial debt is decreed to be uncollectible, then the debt shall be referred to the Chief Fiscal Officer of the State for abatement. (b) The Chief Fiscal Officer of the State […]

§ 19-2-307. Rules

The Secretary of the Department of Finance and Administration is authorized to promulgate such rules as deemed necessary to implement the provisions and intent of this subchapter.