AR HB1159

Reduces income tax rates for individuals, trusts, and estates in two brackets effective January 1, 2019: for those with net income of $21,000-$75,000, the top rate decreases from 6% to 6%, and for those under $21,000, rates are reduced across all brackets (e.g., $0-$4,299 bracket decreases from 0.9% to 0.75%, and $4,300-$8,399 bracket decreases from 2.4% to 2%)

Creates the Arkansas Tax Reform and Relief Legislative Task Force consisting of 16 General Assembly members to examine and reform Arkansas tax laws

Task force directed to modernize the tax code, improve state competitiveness, create jobs, and ensure fairness; shall submit preliminary report by December 1, 2017 and final report by September 1, 2018, then expires December 31, 2018

Task force authorized to contract with outside consultants and hold meetings at least bimonthly in Pulaski County or via teleconference

Declares emergency to address Arkansas's high income tax rates compared to surrounding states and allocates funding to relieve tax burden on lower-income taxpayers