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AR SB318
Bill
Status
5/5/2025
Primary Sponsor
Frederick Love
Click for details
AI Summary
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Creates a full income tax exemption for Arkansas residents who are at least 65 years old and have annual gross income not exceeding $25,000
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Adds new section 26-51-317 to Arkansas Code Title 26, Chapter 51, Subchapter 3
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Legislative findings cite rising costs of living expenses (rent, utilities, groceries, medical expenses, home healthcare) affecting senior citizens on fixed incomes, typically less than $1,600 per month
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Effective for tax years beginning on or after January 1, 2026
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Sponsored by Senator F. Love during the 95th General Assembly Regular Session, 2025
Legislative Description
To Create An Income Tax Exemption For Certain Individuals Based On Income And Age.
Last Action
Died in Senate Committee at Sine Die adjournment.
5/5/2025