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AR SB196
Bill
Status
2/26/2019
Primary Sponsor
Keith Ingram
Click for details
AI Summary
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Amends Arkansas Code Title 26, Chapter 51, Subchapter 4 by adding Section 26-51-460 to adopt federal opportunity zone provisions for computing Arkansas income tax liability.
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Adopts 26 U.S.C. § 1400Z-2 as in effect on January 1, 2018, regarding opportunity zones, with exceptions as provided in the bill.
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Defines "opportunity zone" as a population census tract located in Arkansas designated as a qualified opportunity zone under 26 U.S.C. § 1400Z as of January 1, 2019.
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Effective for tax years beginning on or after January 1, 2018.
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Approved February 26, 2019.
Legislative Description
To Adopt Federal Internal Revenue Code Provisions Concerning Opportunity Zones; And To Provide State Tax Incentives Related To Investments In Opportunity Zones.
Last Action
Notification that SB196 is now Act 201
2/26/2019