[{"_1":2,"_100":-5,"_101":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6598085,"mediaKeyId","3090829-0bdfaacadd3e4c34d14054747331f727","parentId",3090829,"title","Senate committee clears a string of tax and finance bills including 529 rollover, ABLE updates and lease-tax changes","audioSeconds",845,"startMs",331000,"endMs",1176000,"viewUrl","/Search/View?dp=1&key=3090829-0bdfaacadd3e4c34d14054747331f727&start=331&end=1176","thumbnailUrl","https://assets.pipeline.soar.com/3090829-0bdfaacadd3e4c34d14054747331f727/thumbnail_331000.jpg","articleUrl","/articles/6598085/Arkansas/Senate-committee-clears-a-string-of-tax-and-finance-bills-including-529-rollover-ABLE-updates-and-lease-tax-changes","mediaUrl","https://secure.pipeline.soar.com/6598085-54e6f0cd7be02a4eee7adf6e35a9ed9c/orig.mp4?Expires=1770395101&Signature=HCsxlyCFNrWW2Cmcv942lrDkOl6l3cn3OLXUfYe6JcwkpgZRNzDiZdXrunDeaP2EwmREA~KAUnZaMn5CwwW1TH79T9bzCL7QmVFg0HO6lbvfRnPzhZQun0onSN25-1gCFjCY~zntZTbJ9LsoArpTlDRpx4qYSOpOa9THl1ZcnZkTSflquoTYkTvRAY54PpSofkM5LSdkivSjNBYF-cCN6RPZHa8ysCBsSQwf4ou~affLr9lUmEgkEzYNTyiSQ-hHxZQhf0AosWHAfoJcdEbN5do2r85lMTnReGAM1gYp4KumZ8ngJVl7wi~eEyt1KLh2hVXvcez~UCOdFzkV3b1bSA__&Key-Pair-Id=KUT5TJCACFTXG","author","REVENUE & TAX - SENATE","date","2025-04-10T00:00:00Z","article","The Senate Revenue & Tax Committee voted to advance several bills addressing tax administration, education savings accounts and other financial matters. Committee members moved through a supplemental slate of measures; all were approved on voice votes with individual sponsors answering brief questions.

Key measures the committee passed included:

- House Bill 1085 (Representative Carolyn Brown): Conforms Arkansas' 529 plan rules (the Arkansas Brighter Future Plan) with recent federal guidance so account owners may roll unused 529 funds into a Roth IRA for a named beneficiary, subject to annual limits and a lifetime rollover cap of $35,000. Representative Brown told the committee the state’s 529 assets under management are roughly $1,000,431,429 and estimated the fiscal impact of the bill at about $190,000 related to gains on nonqualified withdrawals.

- House Bill 1063 (Senator Kroll, District 3): Updates state treatment of ABLE accounts to align with federal changes and protect beneficiaries' access to savings without risking benefits; sponsors estimated about a $20,000 fiscal effect.

- House Bill 1732 (Representative listed as DanBot, District 87): Increases the teacher out-of-pocket classroom expenses deduction from $500 to $1,000. Sponsor testimony emphasized teachers’ outlays for supplies and classroom needs.

- House Bill 1807 (Representative Lesseves, District 58): Clarifies the sales/use tax treatment for sellers and lessors of aircraft, codifying a minimum lease rate of 7.5% of acquisition cost for industry-standard lease calculations and aiming to prevent double taxation. Sponsor said the change could make Arkansas more competitive for basing aircraft.

- House Bill 1960 (sponsor Matt Stone, State Senate District 2): Changes the way sales tax on motor-vehicle leases is collected, capping the taxable lease stream at $2,500 for local sales and use tax purposes and specifying the lessee as the owner for property-tax reporting; Department of Finance and Administration (DFA) staff said no state revenue impact was expected but local collections on leases would be affected.

- House Bill 1894 (presented by Senator Petty for Senator Gilmore): Directs the Arkansas County/Commerce department (ACD) to adopt rules and guidelines for a complex real-estate assessment process; Association of Counties testified they had worked with sponsors and supported the final draft.

Committee action on each item was followed by a motion to pass and a voice vote. Sponsors and agency staff provided brief explanations of fiscal impacts, administrative mechanics and enforcement. No roll-call tallies were read into the record in the transcript for these measures.","mediaType","Video","parentTitle","REVENUE & TAX - SENATE - Apr 10, 2025","oneSentenceSummary","The Senate Revenue & Tax Committee advanced a set of bills covering 529-to-Roth rollovers, ABLE accounts, teacher deductions, aircraft sales/use tax clarifications, motor-vehicle lease tax caps and procedural rulemaking for complex assessments; all measures passed on voice votes.","taxTitle","REVENUE & TAX - SENATE, Senate, Committees, Legislative, Arkansas","taxId",21190,"location","Arkansas","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6598091,"Committee advances tax credit to encourage breweries to use Arkansas rice",233,38000,271000,"/Search/View?dp=1&key=3090829-0bdfaacadd3e4c34d14054747331f727&start=38&end=271","https://assets.pipeline.soar.com/3090829-0bdfaacadd3e4c34d14054747331f727/thumbnail_38000.jpg","/articles/6598091/Arkansas/Committee-advances-tax-credit-to-encourage-breweries-to-use-Arkansas-rice","https://secure.pipeline.soar.com/6598091-c0d625a7c8ee94219bc83189029422b2/orig.mp4?Expires=1770395101&Signature=lZaon76-ydQ8UjmZrhmyPO0RuyGtK4ZFIDPzDD8MGUPBDKs8X2uQ~kNbNdKLU3TpHJMAtxqAxlkxDOH2JBrR8h45BWPn1TA~KDMw9w3hmPC47O0eHJ0um2KKQfsU0mYQIWpo6uuN5Q0ZG4GbVN2kgxtAKXsLw5DyLdvk8YpgSpOH~YOODxZoql7zqbEasYP3U3XOnOEbxUZkXX0oVLYaGxxkO0zzKPapq420IeuOb7kOK9EDg5j9l97pj8qCRw1Jet4JiByCTaM7zc1tIDObbn4CvXH8hQCqicMGrxYskDK2qLAj1Du6qzxGJAH5MCoWb5qD83pkc4NAkutl8LfIZA__&Key-Pair-Id=KUT5TJCACFTXG","The Senate Revenue & Tax Committee advanced House Bill 1491 after hearing from the bill sponsor, Representative Jeff Wardlaw. The bill would create a small state tax credit intended to encourage breweries, sake producers and wholesalers to use Arkansas rice as an ingredient, with mechanisms intended to keep the tax benefit and resulting sales within Arkansas.

Representative Jeff Wardlaw, who said he works “in the waterfowl world with Delta Waterfowl,” described the measure as an effort to protect Arkansas rice markets. \"If you look at the prices of rice right now and you look at what's going into the fields, it's corn...the rice market's fallen to almost $5.80, and the break even for a farmer, it's $7.80,\" Wardlaw said. He told the committee that about 80% of Arkansas rice currently winds up in the brewery market, and that incentivizing in-state beverage producers to use rice could help maintain demand for the crop.

Wardlaw said the tax credit was crafted to keep the incentive inside Arkansas by directing benefits to in-state wholesalers and breweries. He estimated the fiscal impact at about $1 million per year, citing conversations with industry participants including Anheuser-Busch: \"Their sales actually vary a pretty good bit in Arkansas, but it comes in anywhere from $900,000 to a million 1 if you look back over the last 10 years of sales.\" He described the maximum credit to any single entity as roughly a 22% credit on the qualified item.

After questions from committee members about fiscal neutrality, the committee moved to pass the bill. A motion to pass was offered by Senator Crowell and seconded by Senator Boyd; the motion carried on a voice vote.","House Bill 1491, sponsored by Representative Jeff Wardlaw, would create a targeted tax incentive to encourage breweries and sake producers to use Arkansas rice as an ingredient. Sponsor estimates the cost at roughly $1 million annually and said most of Arkansas rice is sold to the brewery market.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6598094,"Senate panel approves tax credit to encourage large in-state business investments",612,1428000,2040000,"/Search/View?dp=1&key=3090829-0bdfaacadd3e4c34d14054747331f727&start=1428&end=2040","https://assets.pipeline.soar.com/3090829-0bdfaacadd3e4c34d14054747331f727/thumbnail_1428000.jpg","/articles/6598094/Arkansas/Senate-panel-approves-tax-credit-to-encourage-large-in-state-business-investments","https://secure.pipeline.soar.com/6598094-1a74592d0328f23b5e577554738f2a4e/orig.mp4?Expires=1770395101&Signature=WT51nukAglp-fLfJdaSuGJM3qsOWfZMT-r8OkN1oRzzbbvByK-oaPibwh3z~HMjlCOAiOIM~nt9yZFc4GBCPFhLKJdvBMNjZKxxfeJYFa6xj1Y8L9UJv8q0Z5f7InGbjXH6KdABIcJu1H0w3VF-gYwEmkCF0J1x3y0iohylKlL22R1NsCWoIqsjp1uqQU2vW6yKY55o9bblDMC1BlcSwyPQKH4PdUn1ndc4ZU2xFACASaUxzEYX8DVDPojIHhLEGovME0ObOQgGA25JTN86cHmkCbNUtw46LWmDfo5nyIEMWQGbsX8mQxMN86AObKmfX2bCC5fxYe7QcTGxOrR-g7g__&Key-Pair-Id=KUT5TJCACFTXG","The Senate Revenue & Tax Committee approved House Bill 1935 on a voice vote after extended questioning about enforcement and fiscal risk. The bill would create a tax credit available to businesses that have operated continuously in Arkansas for at least two years and that incur a minimum of $25 million in eligible project costs for new construction, expansion or modernization. The credit would be up to 5% of eligible costs, with a maximum of $2 million usable in any fiscal year and unused credits carryable for up to five years.

Supporters said the measure is aimed at retaining existing employers and encouraging large-scale reinvestment in facilities already in Arkansas, rather than incentivizing relocation. \"We have existing successful, invested companies and I think you guys would agree that retention is probably an easier thing for us to do than to attract new jobs,\" said Senator Jim Petty during discussion of the bill. Representative Lehi, who presented the bill, said the program is designed to keep companies from moving large investments out of state.

Committee members pressed officials on how the state would ensure companies meet payroll-maintenance conditions and how clawbacks would be enforced. \"Each program has a little bit of a different agreement but the agreements that we have are legally binding clawback agreements,\" said Clint O'Neil of the Arkansas Economic Development Commission (AEDC). O'Neil described annual checks of payroll requirements and said the agreements include pro rata repayment language when companies fail to meet commitments. He added the state has previously recovered funds: \"there was an occasion within the last couple weeks where we got a million dollars back from a company who just didn't live up to its agreement and they paid us back.\"

Committee members asked about the state's recourse if a company goes out of business after receiving credits. \"Worst case scenario, we don't get our money back,\" O'Neil said, adding that the state pursues collections where prudent but that credits in this bill would not be refundable cash grants and companies must validate the $25 million-plus investment before receiving benefits.

Supporters described the bill as targeted at established firms capable of large investments; AEDC officials described the program as low risk because of the investment scale and the validation required before credits are granted. Representative Lehi and other backers argued the credit fills a gap in incentives for retention and modernization that they said currently prompts some companies to invest outside Arkansas.

The committee moved to pass the bill on a motion by Senator Boyd, seconded by Senator Petty, and the motion carried on a voice vote.

Following the vote, members discussed administrative and enforcement details with AEDC staff and the committee chair indicated the measure would proceed to the next stage of the legislative process.","The Senate Revenue & Tax Committee voted to pass House Bill 1935, creating a tax credit for existing Arkansas businesses that invest at least $25 million to expand or modernize facilities; the measure includes payroll-maintenance requirements, clawback provisions and a multi-year credit carryforward.","actionData","errors"]

Article not found

Senate committee clears a string of tax and finance bills including 529 rollover, ABLE updates and lease-tax changes

Committee advances tax credit to encourage breweries to use Arkansas rice

Senate panel approves tax credit to encourage large in-state business investments