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AR HB1487

Bill

Official Source

Status

Failed

4/22/2015

Primary Sponsor

Greg Leding

Click for details

Origin

House of Representatives

90th General Assembly (2015 Regular)

AI Summary

  • Creates a new income tax exemption in Arkansas Code Title 26, Chapter 51, Subchapter 3 for education awards received from nonprofit volunteer service organizations by residents
  • Exempts awards used to attend institutions of higher education, pay for educational training, or repay student loans
  • Applies retroactively to tax years beginning on or after January 1, 2015
  • Sponsored by Representative Leding in the 90th General Assembly, Regular Session 2015

Legislative Description

To Exempt From The Income Tax Education Scholarships, Awards, And Grants From Nonprofit Volunteer Service Organizations.

Last Action

Died in House Committee at Sine Die adjournment.

4/22/2015

Committee Referrals

Revenue and Taxation2/26/2015

Full Bill Text

No bill text available