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AR HB1774
Bill
Status
Failed
5/1/2023
Primary Sponsor
Jeremiah Moore
Click for details
AI Summary
- Amends Arkansas Code § 26-51-404(b) to add a new exclusion from gross income under the Income Tax Act of 1929
- Exempts gains resulting from the acquisition of real property by an entity with eminent domain power under the right of eminent domain or threat of condemnation
- Applies to acquisitions under Title 18, Chapter 15 or § 27-67-301 et seq. of Arkansas Code
- Effective for tax years beginning on or after January 1, 2023
Legislative Description
To Exempt From Gross Income A Gain By A Taxpayer Resulting From The Acquisition Of Property Under The Right Of Eminent Domain Or The Threat Of Condemnation.
Last Action
Died in House Committee at Sine Die Adjournment
5/1/2023
Committee Referrals
Revenue and Taxation3/29/2023
Full Bill Text
No bill text available