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AR HB1985

Bill

Official Source

Status

Failed

5/5/2025

Primary Sponsor

Denise Garner

Click for details

Origin

House of Representatives

95th General Assembly (2025 Regular)

AI Summary

  • Creates a $500 income tax credit for residential tenants who rent their primary residence for the entire tax year
  • Eligibility limited to taxpayers with net income less than $40,000 annually
  • Taxpayers claimed as dependents on another person's tax return are not eligible
  • Credit amount cannot exceed the taxpayer's total income tax liability for the year
  • Effective for tax years beginning on or after January 1, 2025

Legislative Description

To Create The Arkansas Renter Refund Act; And To Provide An Income Tax Credit For Certain Taxpayers Who Are Residential Tenants.

Last Action

Died in House Committee at Sine Die adjournment.

5/5/2025

Committee Referrals

Revenue and Taxation4/3/2025

Full Bill Text

No bill text available