Act 741 of the 2007 regular session amended Ark. Code Ann. § 6-20-1904.
Beginning in 2008, a declining balance resulting from a district's making capital outlay expenditures for academic facilities cannot be used to put a school district in fiscal distress.
In addition, this act requires the Department, beginning in 2008, to provide the required notice to public school districts, by March 30, informing the district that it has been identified as being in Fiscal Distress.