TO AUTHORIZE THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO SET THE PER-MILE AMOUNT FOR THE INCOME TAX DEDUCTION FOR TRAVEL AND TRANSPORTATION EXPENSES BY PROCLAMATION.

SB 412 authorizes Arkansas' Department of Finance and Administration to set the per-mile deduction rate for business travel expenses on state income tax returns via proclamation, rather than through fixed legislation. It requires the Department to set the rate close to the IRS's current mileage rate (capped at $1.00 per mile) and update it within 30 days when the IRS changes its rate. This directly affects Arkansas taxpayers who deduct business travel costs on their state tax returns. The bill streamlines the process for adjusting the deduction amount to align with federal standards without needing new legislative action each year.