Arkansas HB1935: TO CREATE A MODERNIZATION AND AUTOMATION TAX CREDIT TO ENCOURAGE INVESTMENT BY EXISTING BUSINESSES WITHIN THE STATE

What the bill says

An act to be entitled an act to amend the consolidated incentive act of 2003; to create a modernization and automation tax credit to encourage investment by existing businesses within the state; and for other purposes. subtitle to create a modernization and automation tax credit to encourage investment by existing businesses within the state.

From the enrolled text:

An Act To Be Entitled AN ACT TO AMEND THE CONSOLIDATED INCENTIVE ACT OF 2003; TO CREATE A MODERNIZATION AND AUTOMATION TAX CREDIT TO ENCOURAGE INVESTMENT BY EXISTING BUSINESSES WITHIN THE STATE; AND FOR OTHER PURPOSES. Subtitle TO CREATE A MODERNIZATION AND AUTOMATION TAX CREDIT TO ENCOURAGE INVESTMENT BY EXISTING BUSINESSES WITHIN THE STATE. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. Arkansas Code § 15-4-2703(29)(C), concerning the definition of "project costs" under the Consolidated Incentive Act of 2003, is amended to read as follows: (C) Eligible project costs must be incurred within: (i) Four (4) years from the date a financial incentive agreement was approved by the commission; or (ii) Six (6) years from the date a financial incentive agreement was approved by the commission in connection with a project qualifying for retention tax credits under § 15-4-2706(c)(1)(A) and approved on or after June 22, 2017 a modernization and automation tax credit under § 15-4-2706(c); SECTION 2. Arkansas Code § 15-4-2706(c), concerning investment tax incentives under the Consolidated Incentive Act of 2003, is amended to read as follows: *JLL164* 04-08-2025 09:40:08 JLL164 As Engrossed: H4/8/25 HB1935 (c)(1)(A) An application for a retention modernization and automation tax credit under this subsection shall be submitted to the commission. (B)(i) The application shall be submitted to …

Read the full official text

Sponsors

• Les Eaves (R, 58) · primary sponsor
• Ben Gilmore (R, 1)

Latest actions

1. April 17, 2025: Notification that HB1935 is now Act 882
2. April 15, 2025: Correctly enrolled and ordered transmitted to the Governor's Office.
3. April 14, 2025: TO BE ENROLLED
4. April 14, 2025: Returned from the Senate as passed.
5. April 14, 2025: Returned to the House as passed.
6. April 14, 2025: Read the third time and passed.
7. April 10, 2025: Returned by the Committee, with the recommendation that it Do Pass
8. April 9, 2025: Read first time, rules suspended, read second time, referred to REVENUE & TAX - SENATE
9. April 9, 2025: Received from the House.
10. April 9, 2025: Read the third time and passed and ordered transmitted to the Senate.

Votes

• Senate Roll Call #1258 (April 14, 2025): 30 yea, 1 nay, passed
• Senate Roll Call #1051 (April 9, 2025): 26 yea, 9 nay, passed
• House Roll Call #1080 (April 9, 2025): 81 yea, 13 nay, passed
• House Roll Call #918 (April 3, 2025): 89 yea, 4 nay, passed

Common questions

What is HB1935?

HB1935 is a bill in the Arkansas Legislature (95th General Assembly (2025 Regular)): TO CREATE A MODERNIZATION AND AUTOMATION TAX CREDIT TO ENCOURAGE INVESTMENT BY EXISTING BUSINESSES WITHIN THE STATE.

What does HB1935 do?

In its own words: An act to be entitled an act to amend the consolidated incentive act of 2003; to create a modernization and automation tax credit to encourage investment by existing businesses within the state; and for other purposes. subtitle to create a modernization and automation tax credit to encourage investment by existing businesses within the state.

What is the status of HB1935?

Chaptered as of April 17, 2025. Latest action: Notification that HB1935 is now Act 882 (April 17, 2025).

Who sponsored HB1935?

Les Eaves (R, 58), with 1 co-sponsor.

Where is the official record for HB1935?

On the Arkansas Legislature website: https://www.arkleg.state.ar.us/Bills/Detail?ddBienniumSession=2025%2F2025R&measureno=HB1935