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AR HB1418
Bill
Status
Failed
4/24/2019
Primary Sponsor
Tippi McCullough
Click for details
AI Summary
- Establishes the "Working Families Tax Relief Credit" under Arkansas Code Title 26, Chapter 51, Subchapter 5
- Allows a state income tax credit equal to 10% of the federal Earned Income Tax Credit (EITC) allowed under 26 U.S.C. § 32 as of January 1, 2019
- Makes the credit refundable if the tax credit amount exceeds the taxpayer's income tax liability
- Requires the Department of Finance and Administration to annually notify taxpayers of their potential eligibility for the credit
- Effective for tax years beginning on or after January 1, 2019
Legislative Description
To Create The Working Families Tax Relief Act.
Last Action
Died on House Calendar at Sine Die Adjournment
4/24/2019
Committee Referrals
Revenue and Taxation2/11/2019
Full Bill Text
No bill text available