Arkansas SB423: TO EXEMPT FROM THE INDIVIDUAL INCOME TAX EDUCATION SCHOLARSHIPS, AWARDS, AND GRANTS FROM NONPROFIT VOLUNTEER SERVICE ORGANIZATIONS

What the bill says

An act to be entitled an act to exempt from the individual income tax education scholarships, awards, and grants from nonprofit volunteer service organizations; and for other purposes. subtitle to exempt from the individual income tax education scholarships, awards, and grants from nonprofit volunteer service organizations.

From the introduced text:

An Act To Be Entitled AN ACT TO EXEMPT FROM THE INDIVIDUAL INCOME TAX EDUCATION SCHOLARSHIPS, AWARDS, AND GRANTS FROM NONPROFIT VOLUNTEER SERVICE ORGANIZATIONS; AND FOR OTHER PURPOSES. Subtitle TO EXEMPT FROM THE INDIVIDUAL INCOME TAX EDUCATION SCHOLARSHIPS, AWARDS, AND GRANTS FROM NONPROFIT VOLUNTEER SERVICE ORGANIZATIONS. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. Arkansas Code Title 26, Chapter 51, Subchapter 3, is amended to add an additional section to read as follows: 26-51-317. Nonprofit volunteer service organization education award. There is allowed an exemption from the individual income tax imposed by this chapter for an education scholarship, award, or grant received by a resident and awarded by a nonprofit volunteer service organization to: (1) Pay for the taxpayer's attendance at an institution of higher education; (2) Pay for the taxpayer's educational or vocational training; or (3) Repay a taxpayer's student loan. SECTION 2. EFFECTIVE DATE. Section 1 of this act is effective for tax years beginning on or after January 1, 2025. *JLL271* 03/11/2025 10:37:58 AM JLL271

Read the full official text

Sponsors

• Jamie Scott (D, 12) · primary sponsor
• Denise Ennett (D, 80)
• Steve Crowell (R, 3)

Latest actions

1. May 5, 2025: Died in Senate Committee at Sine Die adjournment.
2. March 11, 2025: Read first time, rules suspended, read second time, referred to REVENUE & TAX - SENATE
3. March 11, 2025: Filed

Common questions

What is SB423?

SB423 is a bill in the Arkansas Legislature (95th General Assembly (2025 Regular)): TO EXEMPT FROM THE INDIVIDUAL INCOME TAX EDUCATION SCHOLARSHIPS, AWARDS, AND GRANTS FROM NONPROFIT VOLUNTEER SERVICE ORGANIZATIONS.

What does SB423 do?

In its own words: An act to be entitled an act to exempt from the individual income tax education scholarships, awards, and grants from nonprofit volunteer service organizations; and for other purposes. subtitle to exempt from the individual income tax education scholarships, awards, and grants from nonprofit volunteer service organizations.

What is the status of SB423?

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

Who sponsored SB423?

Jamie Scott (D, 12), with 2 co-sponsors.

Where is the official record for SB423?

On the Arkansas Legislature website: https://www.arkleg.state.ar.us/Bills/Detail?ddBienniumSession=2025%2F2025R&measureno=SB423