AR HR1010

Authorizes Representative Hammer to introduce a bill creating a state income tax credit for health insurance premiums in Arkansas, effective January 1, 2015.

Provides a refundable tax credit equal to 20% of annual health insurance premiums paid, with a maximum credit of $1,000 (adjusted annually for inflation).

Limits eligibility to taxpayers with household incomes between 138% and 499% of federal poverty guidelines who purchased health plans covering less than 80% of medical costs and experienced premium increases of at least 15% or pay more than 9.5% of household income in premiums.

Allows the state credit to be claimed in addition to federal premium tax credits under the Affordable Care Act; credit becomes void if federal individual health insurance mandates are repealed.

Directs the Department of Finance and Administration to establish rules implementing the credit program.