AR SR10

Authorizes Representative Hammer to introduce legislation 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 cost-of-living increases)

Establishes eligibility requirements: taxpayers with household income between 138% and 499% of federal poverty guideline level who purchased health plans covering less than 80% of medical costs

Allows taxpayers to claim the state credit in addition to federal premium tax credits under the Affordable Care Act

Tax credit becomes void if the federal individual health insurance mandate under the Affordable Care Act is repealed