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AR HB1162
Bill
Status
2/7/2017
Primary Sponsor
Charlene Fite
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AI Summary
HB1162 Summary
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Creates full income tax exemption for military retirement and survivor benefits from uniformed services members
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Makes unemployment compensation benefits taxable income for Arkansas state income tax purposes
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Imposes gross receipts tax on candy and soft drinks; adds tax on specified digital products (music, video, books) and digital codes
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Reduces soft drink tax rates from 2.00 to 1.26 per gallon for syrup and from 21¢ to 20.6¢ per gallon for bottled drinks
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Supplements Arkansas Medicaid Program Trust Fund with 2.95 million for FY2018 and 5.91 million annually thereafter to offset decreased soft drink tax revenues
Legislative Description
To Amend Arkansas Tax Law Concerning Income Tax, Sales And Use Taxes, And The Soft Drink Tax; And To Supplement The Arkansas Medicaid Program Trust Fund To Offset Decreased Deposits From Tax Revenues.
Last Action
Notification that HB1162 is now Act 141
2/7/2017