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
In Committee
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


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