AR HB1399

Creates the "Volunteer Firefighter Tax Protection Act" by adding a new income tax deduction under Arkansas Code Title 26, Chapter 51, Subchapter 4

Allows volunteer firefighters to deduct unreimbursed amounts paid to purchase firefighting equipment required by their fire department or firefighting unit

Allows volunteer firefighters to deduct the loss of value of personal property damaged or destroyed during fire suppression, rescue, pump operation, or other firefighting activities

Limits the total deduction to $1,000 per taxable year and defines "volunteer firefighter" as someone who actively engages in firefighting activities and receives less than $5,000 in annual compensation from their fire department

Becomes effective for tax years beginning on and after January 1, 2014