Loading chat...
AR HB1423
Bill
Status
Failed
4/22/2015
Primary Sponsor
Nate Bell
Click for details
AI Summary
- Allocates 75% of punitive damages awards to the State of Arkansas and 25% to the injured party in civil cases
- Court clerk receives punitive damages payments and distributes the injured party's 25% share while depositing the state's 75% share to the State Treasurer for the Tax Relief Fund
- Attorney's fees in cases with punitive damages are calculated based solely on the injured party's 25% share, not the full award
- Creates the "Tax Relief Fund" as a miscellaneous fund managed by the State Treasurer, Auditor, and Chief Fiscal Officer
- Tax Relief Fund moneys are distributed as general revenue to offset costs of tax relief measures, fee reductions, and tax refunds as directed by the General Assembly
Legislative Description
To Allocate A Portion Of Punitive Damages Awards To The State; And To Create The Tax Relief Fund.
Last Action
Died in House Committee at Sine Die adjournment.
4/22/2015
Committee Referrals
Revenue and Taxation2/19/2015
Full Bill Text
No bill text available