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AR HB1492

Bill

Official Source

Status

Failed

5/1/2023

Primary Sponsor

Robin Lundstrum

Click for details

Origin

House of Representatives

94th General Assembly (2023 Regular)

AI Summary

  • Increases the per-apprentice income tax credit from $2,000 or 10% of wages (whichever is less) to $3,500 or 15% of wages (whichever is less)

  • Raises the annual per-taxpayer maximum income tax credit from $10,000 to $15,000

  • Applies to tax years beginning on or after January 1, 2023

  • Modifies Arkansas Code § 26-51-509(b)(1) governing apprenticeship program income tax credits

Legislative Description

To Amend The Income Tax Credit For Apprenticeship Programs; And To Increase The Income Tax Credit Allowed For Apprenticeship Programs.

Last Action

Died in Senate Committee at Sine Die adjournment.

5/1/2023

Committee Referrals

Revenue & Taxation4/3/2023
Revenue and Taxation2/23/2023

Full Bill Text

No bill text available