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AR SB729

Bill

Official Source

Status

Passed

4/10/2017

Primary Sponsor

Eddie Cheatham

Click for details

Origin

Senate

91st General Assembly (2017 Regular)

AI Summary

  • Amends Arkansas Code § 26-51-1005(b)(3) under the Water Resource Conservation and Development Incentives Act regarding income tax credits for water impoundments
  • Increases the carryover period for unused tax credits from a maximum of 9 consecutive taxable years to 15 consecutive taxable years
  • Allows unused credits to be carried forward to subsequent tax years following the year in which the credit originated
  • Effective for tax years beginning on and after January 1, 2017
  • Approved April 7, 2017

Legislative Description

To Amend The Carry Forward Provision Relating To The Income Tax Credit Allowed For Water Impoundments.

Last Action

Notification that SB729 is now Act 1125

4/10/2017

Committee Referrals

Revenue and Taxation3/29/2017
Revenue & Taxation3/6/2017

Full Bill Text

No bill text available