Bill

Bill > SB8


AR SB8

To Reduce The Income Tax Rates Applicable To Individuals, Trusts, Estates, And Corporations; To Create An Inflationary Relief Income Tax Credit For Certain Taxpayers; And To Declare An Emergency.


summary

Introduced
09/11/2023
In Committee
09/13/2023
Crossed Over
09/12/2023
Passed
09/14/2023
Dead
Signed/Enacted/Adopted
09/15/2023

Introduced Session

94th General Assembly (2023 Special)

Bill Summary

AN ACT TO AMEND THE LAWS CONCERNING INCOME TAX; TO REDUCE THE INCOME TAX RATES APPLICABLE TO INDIVIDUALS, TRUSTS, ESTATES, AND CORPORATIONS; TO CREATE AN INFLATIONARY RELIEF INCOME TAX CREDIT FOR CERTAIN TAXPAYERS; TO DECLARE AN EMERGENCY; AND FOR OTHER PURPOSES.

AI Summary

This bill reduces the income tax rates applicable to individuals, trusts, estates, and corporations in Arkansas. It creates an inflationary relief income tax credit for certain resident taxpayers for the 2023 tax year. The bill also declares an emergency, allowing it to take effect immediately upon approval by the Governor.

Committee Categories

Budget and Finance

Sponsors (65)

Jonathan Dismang (R)* Les Eaves (R)* Wade Andrews (R),  Howard Beaty (R),  Rick Beck (R),  Mark Berry (R),  Justin Boyd (R),  Keith Brooks (R),  Karilyn Brown (R),  Josh Bryant (R),  Rebecca Burkes (R),  Ron Caldwell (R),  Fran Cavenaugh (R),  Alan Clark (R),  Cameron Cooper (R),  Cindy Crawford (R),  Steve Crowell (R),  Breanne Davis (R),  Tyler Dees (R),  Jim Dotson (R),  Jane English (R),  Scott Flippo (R),  Jack Fortner (R),  Tony Furman (R),  Jimmy Gazaway (R),  Ben Gilmore (R),  Delia Haak (R),  Kim Hammer (R),  R.J. Hawk (R),  Bart Hester (R),  Jimmy Hickey (R),  Ricky Hill (R),  Steve Hollowell (R),  Missy Irvin (R),  Blake Johnson (R),  Mark Johnson (R),  Jack Ladyman (R),  Wayne Long (R),  Robin Lundstrum (R),  Roger Lynch (R),  John Maddox (R),  Mindy McAlindon (R),  Rick McClure (R),  Matt McKee (R),  Brit McKenzie (R),  John Payton (R),  Clint Penzo (R),  Jim Petty (R),  David Ray (R),  Terry Rice (R),  Ryan Rose (R),  Johnny Rye (R),  Matthew Shepherd (R),  Matt Stone (R),  Dan Sullivan (R),  Dwight Tosh (R),  Kendon Underwood (R),  Steve Unger (R),  DeAnn Vaught (R),  Dave Wallace (R),  Jeff Wardlaw (R),  Les Warren (R),  Danny Watson (R),  Carlton Wing (R),  Jim Wooten (R), 

Last Action

Notification that SB8 is now Act 6 (on 09/15/2023)

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