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AR HB1457

Bill

Official Source

Status

Passed

4/26/2021

Primary Sponsor

Les Eaves

Click for details

Origin

House of Representatives

93rd General Assembly (2021 Regular)

AI Summary

  • Creates "Paisley's Law" establishing a $500 income tax credit for taxpayers who experience a stillbirth meeting specific criteria
  • Requires the stillborn child to have been in gestation for 20 weeks or more and have a certificate of birth resulting in stillbirth issued under § 20-18-410
  • Limits the credit to the taxable year in which the stillbirth occurs and restricts the credit amount to not exceed the taxpayer's income tax liability for that year
  • Defines "stillbirth" according to the definition in § 20-18-410
  • Effective for tax years beginning on or after January 1, 2021

Legislative Description

To Create Paisley's Law; To Amend The Individual Income Tax Laws; And To Create An Income Tax Credit For A Stillborn Child.

Last Action

Notification that HB1457 is now Act 935

4/26/2021

Committee Referrals

Revenue & Taxation3/1/2021
Revenue and Taxation2/9/2021

Full Bill Text

No bill text available