Bill
Bill > SB386
AR SB386
To Repeal The Law Requiring The Secretary Of The Department Of Finance And Administration To Submit A Report Concerning Changes Made In Federal Income Tax Laws And Regulations.
summary
Introduced
03/05/2025
03/05/2025
In Committee
03/05/2025
03/05/2025
Crossed Over
Passed
Dead
Introduced Session
95th General Assembly (2025 Regular)
Bill Summary
AN ACT TO AMEND THE LAW CONCERNING CERTAIN REPORTS OF THE SECRETARY OF THE DEPARTMENT OF FINANCE AND ADMINISTRATION; TO REPEAL THE LAW REQUIRING THE SECRETARY OF THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO SUBMIT A REPORT CONCERNING CHANGES MADE IN FEDERAL INCOME TAX LAWS AND REGULATIONS; AND FOR OTHER PURPOSES.
AI Summary
This bill repeals the requirement for the Secretary of the Department of Finance and Administration to submit an annual report to legislative committees about changes in federal income tax laws and regulations. Currently, the law mandates that the secretary monitor federal tax law changes to understand their potential impact on Arkansas income tax law and report these findings annually to the House Committee on Revenue and Taxation and the Senate Committee on Revenue and Taxation. The bill removes the reporting obligation while maintaining the secretary's responsibility to monitor federal tax law changes. By eliminating the mandatory reporting requirement, the bill reduces administrative bureaucracy and allows the secretary to continue tracking federal tax law modifications without the need to produce a formal annual report to legislative committees.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Sine Die adjournment (on 05/05/2025)
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://arkleg.state.ar.us/Bills/Detail?id=sb386&ddBienniumSession=2025%2F2025R |
Fiscal Note/Analysis | https://arkleg.state.ar.us/Home/FTPDocument?path=%2FAssembly%2F2025%2F2025R%2FFiscal+Impacts%2FSB386-DFA1.pdf |
BillText | https://arkleg.state.ar.us/Home/FTPDocument?path=%2FBills%2F2025R%2FPublic%2FSB386.pdf |
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