Arkansas legislation · 95th General Assembly (2025 Regular)
Arkansas HB1065: TO CREATE THE INFLATION REDUCTION ACT OF 2025
Status: Failed, May 5, 2025
What the bill says
An act to be entitled an act to create the inflation reduction act of 2025; to amend the state income tax laws; to remove the cap on increases to the standard deduction and individual income tax tables due to inflation; to tie increases of the standard deduction and individual income tax tables to a regional index of the consumer price index; for other purposes. subtitle to create the inflation reduction act of 2025.
From the introduced text:
An Act To Be Entitled AN ACT TO CREATE THE INFLATION REDUCTION ACT OF 2025; TO AMEND THE STATE INCOME TAX LAWS; TO REMOVE THE CAP ON INCREASES TO THE STANDARD DEDUCTION AND INDIVIDUAL INCOME TAX TABLES DUE TO INFLATION; TO TIE INCREASES OF THE STANDARD DEDUCTION AND INDIVIDUAL INCOME TAX TABLES TO A REGIONAL INDEX OF THE CONSUMER PRICE INDEX; FOR OTHER PURPOSES. Subtitle TO CREATE THE INFLATION REDUCTION ACT OF 2025. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. DO NOT CODIFY. Title. This act shall be known and may be cited as the "Inflation Reduction Act of 2025." SECTION 2. Arkansas Code § 26-51-201(d)(2), concerning the method of annually adjusting the tables that determine the amount of individual income tax due, is amended to read as follows: (2) For purposes of subdivision (d)(1) of this section, the cost-of-living adjustment for a calendar year is the percentage, if any, by *JLL075* 02-19-2025 11:01:44 JLL075 As Engrossed: H2/19/25 HB1065 which the CPI for the current calendar year exceeds the CPI for the preceding calendar year, not to exceed three percent (3%). The CPI for any calendar year is the average of the Consumer Price Index as of the close of the twelve-month period ending on August 31 of such calendar year. "Consumer Price …
Sponsors
- David Ray (R, 69) · primary sponsor
- Jonathan Dismang (R, 18)
- Brandon Achor (R, 71)
- Wade Andrews (R, 98)
- Sonia Barker (R, 96)
- Beaty Jr., Howard (R, 95)
- Rick Beck (R, 43)
- Mary Bentley (R, 54)
- Stan Berry (R, 44)
- Harlan Breaux (R, 6)
- Keith Brooks (R, 78)
- Alyssa Brown (R, 41)
Latest actions
- : Died in House Committee at Sine Die adjournment.
- : REPORTED CORRECTLY ENGROSSED
- : Amendment No. 1 read and adopted and the bill ordered engrossed.
- : Placed on second reading for the purpose of amendment.
- : Read the first time, rules suspended, read the second time and referred to the Committee on REVENUE & TAXATION- HOUSE
- : Filed
Common questions
- What is HB1065?
- HB1065 is a bill in the Arkansas Legislature (95th General Assembly (2025 Regular)): TO CREATE THE INFLATION REDUCTION ACT OF 2025.
- What does HB1065 do?
- In its own words: An act to be entitled an act to create the inflation reduction act of 2025; to amend the state income tax laws; to remove the cap on increases to the standard deduction and individual income tax tables due to inflation; to tie increases of the standard deduction and individual income tax tables to a regional index of the consumer price index; for other purposes. subtitle to create the inflation reduction act of 2025.
- What is the status of HB1065?
- Failed as of May 5, 2025. Latest action: Died in House Committee at Sine Die adjournment. (May 5, 2025).
- Who sponsored HB1065?
- David Ray (R, 69), with 11 co-sponsors.
- Where is the official record for HB1065?
- On the Arkansas Legislature website: https://www.arkleg.state.ar.us/Bills/Detail?ddBienniumSession=2025%2F2025R&measureno=HB1065
Source: official Arkansas record. Tracked by Delilah, AI for legislation across all 50 states and Congress.