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AR HB1026
Bill
Status
5/5/2025
Primary Sponsor
Andrew Collins
Click for details
AI Summary
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Creates a refundable income tax credit for tuition paid at Arkansas public two-year or four-year colleges, excluding amounts covered by scholarships or grants
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Limits eligibility to students from households with adjusted gross income up to $90,000, as reported on the FAFSA
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Requires students to be Arkansas residents with in-state tuition classification, enrolled within two years of high school graduation, pursuing a certificate or associate/bachelor's degree
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Students must complete at least 6 credit hours per semester, maintain a minimum 2.5 GPA, and have fewer than 65 credit hours at initial enrollment
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Credit may be claimed for a maximum of four consecutive academic semesters, effective for tax years beginning January 1, 2025
Legislative Description
To Create The Arkansas Promise Act; And To Create An Income Tax Credit For Tuition Paid For An Eligible Student At A Public Institution Of Higher Education.
Last Action
Died in House Committee at Sine Die adjournment.
5/5/2025