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Bill > SB263


AR SB263

AR SB263
To Increase The Homestead Property Tax Credit.


summary

Introduced
02/20/2025
In Committee
03/11/2025
Crossed Over
03/03/2025
Passed
03/13/2025
Dead
Signed/Enacted/Adopted
03/18/2025

Introduced Session

95th General Assembly (2025 Regular)

Bill Summary

AN ACT TO INCREASE THE HOMESTEAD PROPERTY TAX CREDIT; AND FOR OTHER PURPOSES.

AI Summary

This bill increases the homestead property tax credit in Arkansas from $500 to $600 for each assessment year, which means the amount of real property taxes assessed on a homeowner's primary residence will be reduced by $600 instead of $500. The new tax credit amount will take effect for assessment years beginning on or after January 1, 2025. A homestead is typically defined as a person's primary residence and primary place of residence, and this tax credit is designed to provide financial relief to property owners by reducing their annual property tax burden. The bill is a straightforward amendment to the existing Arkansas tax code, specifically modifying section 26-26-1118(a)(1)(A), with the goal of offering homeowners a slightly higher tax credit to help offset their property tax expenses.

Committee Categories

Budget and Finance

Sponsors (107)

Steve Crowell (R)* Bart Schulz (R)* Brandon Achor (R),  Wade Andrews (R),  Sonia Barker (R),  Lincoln Barnett (D),  Howard Beaty (R),  Mary Bentley (R),  Justin Boyd (R),  Harlan Breaux (R),  Keith Brooks (R),  Alyssa Brown (R),  Karilyn Brown (R),  Matt Brown (R),  Josh Bryant (R),  Nick Burkes (R),  Rebecca Burkes (R),  Ron Caldwell (R),  Joey Carr (R),  Fran Cavenaugh (R),  Paul Childress (R),  Alan Clark (R),  Nicole Clowney (D),  Cameron Cooper (R),  Bruce Cozart (R),  Cindy Crawford (R),  Carol Dalby (R),  Breanne Davis (R),  Tyler Dees (R),  Jonathan Dismang (R),  Matt Duffield (R),  Hope Duke (R),  James Eaton (R),  Les Eaves (R),  Jane English (R),  Denise Ennett (D),  Brian Evans (R),  Ken Ferguson (D),  Scott Flippo (R),  Stephanie Flowers (D),  Tony Furman (R),  Denise Garner (D),  Jimmy Gazaway (R),  Ben Gilmore (R),  Justin Gonzales (R),  Diana Gonzales Worthen (D),  Brad Hall (R),  Kim Hammer (R),  R.J. Hawk (R),  Dolly Henley (R),  Bart Hester (R),  Ricky Hill (R),  Mike Holcomb (R),  Steve Hollowell (R),  Ashley Hudson (D),  Missy Irvin (R),  Blake Johnson (R),  Mark Johnson (R),  Greg Leding (D),  Wayne Long (R),  Fred Love (D),  Robin Lundstrum (R),  John Maddox (R),  Steve Magie (D),  Mindy McAlindon (R),  Rick McClure (R),  Austin McCollum (R),  Tippi McCullough (D),  Jessie McGruder (D),  Ron McNair (R),  Jon Milligan (R),  Jeremiah Moore (R),  Kendra Moore (R),  Reginald Murdock (D),  Stetson Painter (R),  John Payton (R),  Shad Pearce (R),  Clint Penzo (R),  Mark Perry (D),  Jim Petty (R),  Chad Puryear (R),  David Ray (R),  Terry Rice (R),  Jay Richardson (D),  Scott Richardson (R),  Marcus Richmond (R),  Ryan Rose (R),  Johnny Rye (R),  Jamie Scott (D),  Joy Springer (D),  Trey Steimel (R),  Matt Stone (R),  Gary Stubblefield (R),  Dan Sullivan (R),  Randy Torres (R),  Dwight Tosh (R),  Clarke Tucker (D),  Kendon Underwood (R),  Steve Unger (R),  DeAnn Vaught (R),  Steven Walker (R),  Dave Wallace (R),  Les Warren (R),  David Whitaker (D),  Carlton Wing (R),  Jeremy Wooldridge (R),  Jim Wooten (R), 

Last Action

Notification that SB263 is now Act 330 (on 03/18/2025)

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