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AR SB460

Bill

Official Source

Status

Failed

5/1/2023

Primary Sponsor

Jonathan Dismang

Click for details

Origin

Senate

94th General Assembly (2023 Regular)

AI Summary

  • Amends Arkansas Code § 26-51-2204(c)(1) regarding the Arkansas historic rehabilitation income tax credit program

  • Increases the maximum annual issuance of historic rehabilitation income tax credits from $4,000,000 to $8,000,000 beginning in fiscal year 2022

  • Further increases the maximum annual issuance to $15,000,000 beginning in fiscal year 2024

  • The Division of Arkansas Heritage administers the credit issuance under these new limits

Legislative Description

To Amend The Arkansas Historic Rehabilitation Income Tax Credit Act; And To Increase The Maximum Amount Of Arkansas Historic Rehabilitation Income Tax Credits That May Be Issued In A Fiscal Year.

Last Action

Sine Die adjournment

5/1/2023

Committee Referrals

Revenue & Taxation3/23/2023

Full Bill Text

No bill text available