TO AMEND THE INCOME TAX DEDUCTION FOR DEPRECIATION AND THE EXPENSING OF PROPERTY; AND TO ADOPT FEDERAL INCOME TAX LAW CONCERNING THE DEDUCTION FOR DEPRECIATION AND THE EXPENSING OF PROPERTY.

HB 1907 sought to update how businesses and individuals calculate the income tax deduction for depreciation and the expensing of property in Arkansas. The bill proposed adopting the federal income tax law concerning depreciation (26 U.S.C. §§ 167 and 168) as it was in effect on January 1, 2025. This change would have applied to property purchased in tax years beginning on or after January 1, 2025, for the purpose of computing Arkansas income tax liability.