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.

House Bill 1026, also known as the Arkansas Promise Act, aimed to establish a new state income tax credit. This credit would have been available to individuals who pay tuition for an eligible student attending a public institution of higher education within Arkansas. The bill's mechanism was designed to allow taxpayers to reduce their state income tax liability based on the tuition paid for these students.