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AR HB1653
Bill
Status
Failed
4/24/2019
Primary Sponsor
Julie Mayberry
Click for details
AI Summary
- Eliminates the Arkansas income tax deduction for gambling losses effective for tax years beginning January 1, 2019
- Directs the State Treasurer to deduct $11,000,000 annually from the General Revenue Fund beginning January 1, 2020, distributing one-twelfth ($916,667) each month to the Arkansas Medicaid Program Trust Fund
- Dedicates the transferred funds exclusively for the Community and Employment Supports Waiver Program
- Removes prior provisions allowing gambling losses to be deducted to the extent of gambling winnings and exempting them from the 2% limitation on miscellaneous itemized deductions
Legislative Description
To Eliminate The Income Tax Deduction For Gambling Losses; And To Dedicate The Savings From The Elimination Of The Income Tax Deduction For Gambling Losses To Be Used For Reducing The Developmental Disabilities Waiting List.
Last Action
Died on House Calendar at Sine Die Adjournment
4/24/2019
Committee Referrals
Revenue and Taxation3/4/2019
Full Bill Text
No bill text available