Maddy summarySenate Resolution 23 recognizes February 15-22, 2025, as National FFA Week in Arkansas. This resolution commends the National FFA Organization and its Arkansas Division for their work in agricultural education and youth leadership.
Maddy summaryHouse Bill 1534 proposes to increase the existing homestead property tax credit. This bill directly affects homeowners by reducing the amount of property taxes they owe on their primary residence. The key mechanism is an adjustment to the credit amount, providing a larger tax reduction for eligible households.
Maddy summarySenate Resolution 3 (SR 3) recognizes and celebrates Arkansas Forestry Day at the State Capitol on January 21, 2025. This resolution acknowledges the economic and environmental contributions of forestry to the state of Arkansas.
Maddy summarySenate Resolution 35 formally recognizes University of Central Arkansas and NBA star Scottie Pippen for his achievements and contributions to his community, the State of Arkansas, the nation, and the world. This resolution serves as a commendation for his career and positive impact.
Maddy summaryThis Senate Resolution recognizes the positive impact of the Arkansas 4-H program on the state's youth. It also officially proclaims March 4, 2025, as 4-H Day at the State Capitol.
Maddy summarySenate Bill 204 proposes to exempt certain financial gains from state gross income for tax purposes. This exemption would apply to taxpayers whose property is acquired by a government or entity under the right of eminent domain or the threat of condemnation. Essentially, any profit a property owner makes from such a forced sale would not be considered taxable income under this bill.
Maddy summaryHouse Joint Resolution 1009 proposes an amendment to the Arkansas Constitution, establishing what would be known as the "Arkansas Victims' Bill of Rights." This amendment aims to provide specific rights for individuals who are victims of both misdemeanor and felony offenses. It would directly affect victims involved in both the adult and juvenile justice systems within the state. The bill intends to enshrine these rights into the state's constitution.
Maddy summaryHB 1203 aimed to eliminate a specific fee for businesses in Arkansas applying for a new sales tax permit. The bill would have prohibited the Secretary of the Department of Finance and Administration from charging a $50 nonrefundable fee that was previously required to issue a new gross receipts tax permit. While removing this application fee, the bill maintained the existing requirement for out-of-state businesses to provide a cash deposit or bond to cover their annual sales tax.
Maddy summaryHouse Bill 1971 proposed to amend the process by which the Arkansas Department of Finance and Administration (DFA) provides vendor information to city and county governments. Upon request, the DFA would furnish an electronic report listing vendors within the requesting jurisdiction who hold state sales tax permits, including each vendor's name and their North American Industry Classification System (NAICS) code. To receive this report, city or county governments would need to submit an electronic request by August 1, register for an account with the Arkansas Taxpayer Access Point, and may be charged a fee to cover the DFA's costs. The bill specified that the information provided to local governments must remain confidential and cannot be disclosed.
Maddy summaryHB 1501 aimed to align Arkansas state income tax laws regarding depreciation and the expensing of property with federal income tax provisions. The bill specifically adopted various sections of the U.S. Code (Title 26 U.S.C. §§ 167, 168, and 179) related to how businesses deduct the cost of assets. This change would have increased the amount allowed for immediately expensing certain depreciable business assets on state income tax returns to match federal limits. It directly affected Arkansas businesses and individuals who purchase depreciable property and claim these deductions.
