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AR HB1398

Bill

Official Source

Status

Failed

5/1/2023

Primary Sponsor

Les Eaves

Click for details

Origin

House of Representatives

94th General Assembly (2023 Regular)

AI Summary

  • Increases the stillborn child income tax credit from $500 to $1,500 under Paisley's Law
  • Credit applies to taxpayers who had a stillborn child in gestation for 20 weeks or more, with an issued certificate of birth resulting in stillbirth, who would have been a dependent
  • Credit may only be claimed for the taxable year in which the stillbirth occurs and cannot exceed the taxpayer's income tax due
  • Requires state agencies to identify the credit as "Paisley's Law" in all manuals, forms, and documents provided to taxpayers and tax preparers
  • Effective for tax years beginning on or after January 1, 2023

Legislative Description

To Amend Paisley's Law; And To Amend The Stillborn Child Income Tax Credit.

Last Action

Died in Senate Committee at Sine Die adjournment.

5/1/2023

Committee Referrals

Revenue & Taxation4/3/2023
Revenue and Taxation2/9/2023

Full Bill Text

No bill text available