Tax cut bills, Game & Fish appropriation clear House, Senate chambers

by Roby Brock (roby@talkbusiness.net)

Arkansas lawmakers overwhelmingly passed major tax relief and a lingering budget appropriation in the Senate and House chambers on Tuesday (June 18), the second day of a special session at the state capitol.

SB1, by Sen. Jonathan Dismang, R-Beebe, would would reduce the top personal income tax rate from 4.4% to 3.9% and the top corporate tax rate from 4.8% to 4.3%. It also moves $290 million of the state’s $708.1 million estimated budget surplus to the Arkansas Reserve Fund Set-Aside fund. The measure passed with 28 votes, while 5 opposed it and two were excused from voting.

A House companion bill, HB1001 by Rep. Les Eaves, R-Searcy, cleared the House easily with 86 votes in favor to 10 opposed and four not voting or present.

Tax cut bills, Game & Fish appropriation clear House, Senate chambers