(a) It shall be the duty of the Commissioner of State Lands, immediately upon the execution of any conveyance conveying lands to any railroad company, to make a list of the lands conveyed and send the list of the lands conveyed to the assessor of the county in which the lands are situated.
(b) The assessor shall at the next assessment assess the lands for taxation as the property of the railroad company in the same manner that other lands are assessed.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 1 - Public Utilities And Carriers
Chapter 11 - Establishment and Organization of Railroads
§ 23-11-501. Grants for purpose of aiding in construction of railroads
§ 23-11-502. Lands forfeited upon failure to apply for and accept conveyance
§ 23-11-503. Forfeited lands revert to state
§ 23-11-504. Report of failure to accept or forfeiture of lands — Lands proclaimed subject to sale