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AR SB547

Bill

Official Source

Status

Failed

4/25/2019

Primary Sponsor

Blake Johnson

Click for details

Origin

Senate

92nd General Assembly (2019 Regular)

AI Summary

  • Amends Arkansas Code § 9-12-315(b) to redefine what constitutes "marital property" subject to division in divorce proceedings
  • Excludes from marital property the increase in value of pre-marital property or property acquired by gift, inheritance, or death, including life insurance proceeds, deferred compensation plans, and retirement accounts
  • Excludes benefits received from workers' compensation claims, personal injury claims, or Social Security claims when related to permanent disability or future medical expenses
  • Excludes income generated from pre-marital property or property acquired by gift or inheritance
  • Adds new exclusion for property acquired before marriage that has not increased in value as a result of a spouse's time, effort, or skill

Legislative Description

To Amend The Law Concerning The Division Of Property In An Action For Divorce.

Last Action

Sine Die adjournment

4/25/2019

Committee Referrals

Judiciary4/3/2019
Judiciary3/20/2019
Judiciary3/12/2019

Full Bill Text

No bill text available