Arkansas HB1985: TO CREATE THE ARKANSAS RENTER REFUND ACT; AND TO PROVIDE AN INCOME TAX CREDIT FOR CERTAIN TAXPAYERS WHO ARE RESIDENTIAL TENANTS

What the bill says

An act to be entitled an act to create the arkansas renter refund act; to provide an income tax credit for certain taxpayers who are residential tenants; and for other purposes. subtitle to create the arkansas renter refund act; and to provide an income tax credit for certain taxpayers who are residential tenants.

From the introduced text:

An Act To Be Entitled AN ACT TO CREATE THE ARKANSAS RENTER REFUND ACT; TO PROVIDE AN INCOME TAX CREDIT FOR CERTAIN TAXPAYERS WHO ARE RESIDENTIAL TENANTS; AND FOR OTHER PURPOSES. Subtitle TO CREATE THE ARKANSAS RENTER REFUND ACT; AND TO PROVIDE AN INCOME TAX CREDIT FOR CERTAIN TAXPAYERS WHO ARE RESIDENTIAL TENANTS. 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 "Arkansas Renter Refund Act". SECTION 2. Arkansas Code Title 26, Chapter 51, Subchapter 5, is amended to add an additional section to read as follows: 26-51-518. Homestead credit for renters. (a) There is allowed an income tax credit against the income tax imposed by this chapter in the amount of five hundred dollars ($500) for a taxpayer who: (1) Rents his or her primary residence as a residential tenant for the entire tax year; (2) Has a net income of less than forty thousand dollars ($40,000) for the tax year; and (3) Is not claimed as a dependent on another taxpayer's income *JLL390* 04/03/2025 8:23:07 AM JLL390 HB1985 tax return. (b) The amount of the income tax credit under this section that may be claimed by the taxpayer in a tax year shall not exceed the amount of …

Read the full official text

Sponsors

• Denise Garner (D, 20) · primary sponsor

Latest actions

1. May 5, 2025: Died in House Committee at Sine Die adjournment.
2. April 3, 2025: Read the first time, rules suspended, read the second time and referred to the Committee on REVENUE & TAXATION- HOUSE
3. April 3, 2025: Filed

Common questions

What is HB1985?

HB1985 is a bill in the Arkansas Legislature (95th General Assembly (2025 Regular)): TO CREATE THE ARKANSAS RENTER REFUND ACT; AND TO PROVIDE AN INCOME TAX CREDIT FOR CERTAIN TAXPAYERS WHO ARE RESIDENTIAL TENANTS.

What does HB1985 do?

In its own words: An act to be entitled an act to create the arkansas renter refund act; to provide an income tax credit for certain taxpayers who are residential tenants; and for other purposes. subtitle to create the arkansas renter refund act; and to provide an income tax credit for certain taxpayers who are residential tenants.

What is the status of HB1985?

Failed as of May 5, 2025. Latest action: Died in House Committee at Sine Die adjournment. (May 5, 2025).

Who sponsored HB1985?

Denise Garner (D, 20).

Where is the official record for HB1985?

On the Arkansas Legislature website: https://www.arkleg.state.ar.us/Bills/Detail?ddBienniumSession=2025%2F2025R&measureno=HB1985