Ark. Code Ann. § 26-24-121

The Arkansas Public Service Commission shall have the full power and authority in the administration of the tax laws of this state to transmit to the Governor, thirty (30) days before the convening of the General Assembly, a written report showing in tabular form all the taxable property in the state and the assessed value thereof, together with suggestions of such measures as the commission may formulate and recommend for the consideration of the General Assembly.