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AR HB1345

Bill

Official Source

Status

Failed

5/1/2023

Primary Sponsor

Dwight Tosh

Click for details

Origin

House of Representatives

94th General Assembly (2023 Regular)

AI Summary

  • Increases the income tax deduction limit for individual teachers from $500 to $750 per taxpayer per tax year
  • Increases the income tax deduction limit for married couples filing jointly (both teachers) from $1,000 to $1,500 per tax year
  • Applies to Arkansas Code § 26-51-459(c) concerning the teacher's classroom investment income tax deduction
  • Effective for tax years beginning on or after January 1, 2023

Legislative Description

To Amend The Income Tax Deduction For A Teacher's Classroom Expenses; And To Increase The Income Tax Deduction For A Teacher's Classroom Expenses.

Last Action

Died in Senate Committee at Sine Die adjournment.

5/1/2023

Committee Referrals

Revenue & Taxation4/3/2023
Revenue and Taxation2/2/2023

Full Bill Text

No bill text available