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AR HB1438
Bill
Status
Failed
5/5/2025
Primary Sponsor
Frances Cavenaugh
Click for details
AI Summary
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Creates a state income tax credit for Arkansas taxpayers aged 65 or older equal to the amount of property tax paid on their homestead during the tax year
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Excludes any delinquent property tax payments or penalties on delinquent taxes from the credit calculation
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Credit is fully refundable—if the credit exceeds the taxpayer's income tax liability, the excess amount will be refunded to the taxpayer
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Effective for tax years beginning on or after January 1, 2025
Legislative Description
To Create An Income Tax Credit For Taxpayers Sixty-five And Older In An Amount Equal To The Taxpayer's Property Tax Payment On A Homestead.
Last Action
Died in House Committee at Sine Die adjournment.
5/5/2025
Committee Referrals
Revenue and Taxation2/10/2025
Full Bill Text
No bill text available