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AR SB640
Bill
Status
Failed
4/25/2019
Primary Sponsor
Breanne Davis
Click for details
AI Summary
- Eliminates the income tax deduction for gambling losses under Arkansas Code § 26-51-424(a)(2)
- Directs the State Treasurer to transfer $11,000,000 annually ($916,667 monthly) from the General Revenue Fund to the Arkansas Medicaid Program Trust Fund beginning January 1, 2020
- Dedicates all captured savings from the gambling loss deduction elimination exclusively to fund the Community and Employment Supports Waiver Program
- Effective for tax years beginning on or after January 1, 2019
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
Sine Die adjournment
4/25/2019
Committee Referrals
Revenue & Taxation3/25/2019
Full Bill Text
No bill text available