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AR HB1874

Bill

Official Source

Status

Failed

5/1/2017

Primary Sponsor

Robin Lundstrum

Click for details

Origin

House of Representatives

91st General Assembly (2017 Regular)

AI Summary

  • Allows Arkansas taxpayers to deduct contributions to tax-deferred tuition savings programs established by other states under federal code 26 U.S.C. § 529 from their Arkansas income tax, effective for tax years beginning January 1, 2017
  • Permits deductions for contributions to Arkansas tuition savings accounts established under the state's program or equivalent programs in other states
  • Prohibits taxpayers from deducting contributions to out-of-state tuition savings programs if the same contribution was already deducted on another state's income taxes
  • Amends Arkansas Code § 6-84-111(b)(1) to expand the definition of eligible tuition savings programs for state income tax deduction purposes

Legislative Description

To Allow Contributions By A Taxpayer To A Tax-deferred Tuition Savings Program Established In Another State To Be Deducted From An Arkansas Taxpayer's Income Tax.

Last Action

Died in House Committee at Sine Die Adjournment

5/1/2017

Committee Referrals

Education3/6/2017

Full Bill Text

No bill text available