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AR HB1042

Bill

Official Source

Status

Passed

2/24/2021

Primary Sponsor

Logan Jett

Click for details

Origin

House of Representatives

93rd General Assembly (2021 Regular)

AI Summary

  • Repeals Arkansas Code § 26-63-304, which imposed a 1.5% special excise tax on gross receipts from motor vehicle rentals of 30 days or more
  • Eliminates the long-term rental vehicle tax revenue that was previously deposited into the State Treasury as general revenues
  • Removes the automatic expiration provision that would have ended the tax if 3% or more of new motor vehicles registered in Arkansas during any calendar year were leased vehicles
  • Repeals the reference to long-term rental vehicle tax in Arkansas Code § 19-6-201(36) concerning enumeration of general revenues
  • Approved February 24, 2021

Legislative Description

To Repeal The Long-term Rental Vehicle Tax.

Last Action

Notification that HB1042 is now Act 146

2/24/2021

Committee Referrals

Revenue & Taxation1/27/2021
Revenue and Taxation1/11/2021

Full Bill Text

No bill text available