Revenue & Tax - Senate
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Transcript
1 document
Bills discussed (15)
| Bill | Title | Sponsor | Status |
|---|---|---|---|
|
SB263
Act 330
· 4 mentions in agenda, transcript, chapter
Matched: “AGENDA (Revised 2-25-2025 @ 2:30 PM) Moved SB263 to Regular Agenda Senate Committee on Revenue and Taxation…”
|
TO INCREASE THE HOMESTEAD PROPERTY TAX CREDIT. | Crowell | Notification that SB263 is now Act 330 |
|
SB200
Act 329
· 3 mentions in transcript, agenda, chapter
Matched: “…, so we'll just leave it on the agenda, uh, Senator Hammer, SB 200, you want to present that today? All right, members, we're…”
|
TO INCLUDE TEXTBOOKS AND OTHER INSTRUCTIONAL MATERIALS THAT ARE LEASED IN THE EXEMPTION FROM THE … | K. Hammer | Notification that SB200 is now Act 329 |
|
HB1085
Act 802
· 1 mention in agenda
Matched: “…A DISABILITY OR A PERSON SIXTY-FIVE YEARS OF AGE OR OLDER. HB1085 K. Brown TO ADOPT FEDERAL LAW CONCERNING TAX-DEFERRED TUITI…”
|
TO ADOPT FEDERAL LAW CONCERNING TAX-DEFERRED TUITION SAVINGS PROGRAMS; AND TO AMEND THE INCOME TAX … | K. Brown | Notification that HB1085 is now Act 802 |
|
SB131
· 1 mention in agenda
Matched: “…SE TAX RATE APPLICABLE TO PURCHASES OF USED MOTOR VEHICLES. SB131 J. Bryant TO CONFIRM THE LAW RELATED TO THE ASSESSMENT OF A…”
|
TO CONFIRM THE LAW RELATED TO THE ASSESSMENT OF A HOMESTEAD BELONGING TO A PERSON … | J. Bryant | Died in Senate Committee at Sine Die adjournment. |
|
SB204
· 1 mention in agenda
Matched: “…estrictions designating areas as 'Members and Staff Only'. SB204 C. Penzo TO EXEMPT FROM GROSS INCOME A GAIN BY A TAXPAYER R…”
|
TO EXEMPT FROM GROSS INCOME A GAIN BY A TAXPAYER RESULTING FROM THE ACQUISITION OF … | C. Penzo | Died in Senate Committee at Sine Die adjournment. |
|
SB219
Act 380
· 1 mention in agenda
Matched: “…THE RIGHT OF EMINENT DOMAIN OR THE THREAT OF CONDEMNATION. SB219 J. Dismang TO REPEAL THE SUNSET PROVISION OF THE ARKANSAS M…”
|
TO REPEAL THE SUNSET PROVISION OF THE ARKANSAS MEDICAL MARIJUANA SPECIAL PRIVILEGE TAX ACT OF … | J. Dismang | Notification that SB219 is now Act 380 |
|
SB233
· 1 mention in agenda
Matched: “…IAL PRIVILEGE TAX ACT OF 2017; AND TO DECLARE AN EMERGENCY. SB233 C. Penzo TO AMEND THE INCOME TAX LAWS RELATING TO CERTAIN T…”
|
TO AMEND THE INCOME TAX LAWS RELATING TO CERTAIN TRUSTS; TO PRESERVE CERTAIN TRUST ASSETS; … | C. Penzo | Died in Senate Committee at Sine Die adjournment. |
|
SB256
· 1 mention in agenda
Matched: “…TRUST ASSETS; AND TO EXEMPT CERTAIN TRUSTS FROM INCOME TAX. SB256 J. Dotson TO AMEND THE ARKANSAS CORPORATE FRANCHISE TAX ACT…”
|
TO AMEND THE ARKANSAS CORPORATE FRANCHISE TAX ACT OF 1979; AND TO REDUCE THE MINIMUM … | J. Dotson | Died in Senate Committee at Sine Die adjournment. |
|
SB268
· 1 mention in agenda
Matched: “…REDUCE THE MINIMUM FRANCHISE TAX FOR CERTAIN CORPORATIONS. SB268 D. Wallace TO TRANSFER GENERAL REVENUE TO THE AGING AND ADU…”
|
TO TRANSFER GENERAL REVENUE TO THE AGING AND ADULT SERVICES FUND ACCOUNT TO BE USED … | D. Wallace | Died in Senate Committee at Sine Die adjournment. |
|
SB274
· 1 mention in agenda
Matched: “…RVICES BENEFITING THE ELDERLY; AND TO DECLARE AN EMERGENCY. SB274 D. Wallace TO CREATE A SALES AND USE TAX EXEMPTION FOR CERT…”
|
TO CREATE A SALES AND USE TAX EXEMPTION FOR CERTAIN ITEMS RELATED TO HUMAN BURIAL; … | D. Wallace | Died in Senate Committee at Sine Die adjournment. |
|
SB49
· 1 mention in agenda
Matched: “…PROPERTY TAX CREDIT. DEFERRED BILLS Number Sponsor Subtitle SB49 J. Boyd TO AMEND THE LAW CONCERNING THE COLLECTION OF SALES…”
|
TO AMEND THE LAW CONCERNING THE COLLECTION OF SALES AND USE TAX ON MOTOR VEHICLES, … | J. Boyd | Sine Die adjournment |
|
SB57
· 1 mention in agenda
Matched: “…O SUBJECT CERTAIN USED MOTORBOATS TO A SPECIAL RATE OF TAX. SB57 C. Tucker TO AMEND THE INCOME TAX CREDIT FOR CERTAIN INDIVI…”
|
TO AMEND THE INCOME TAX CREDIT FOR CERTAIN INDIVIDUAL POLITICAL CONTRIBUTIONS; AND TO AMEND A … | C. Tucker | Died in Senate Committee at Sine Die adjournment. |
|
SB7
· 1 mention in agenda
Matched: “…velopment Commission REGULAR AGENDA Number Sponsor Subtitle SB7 C. Penzo TO ALLOW MEMBERS OF THE GENERAL ASSEMBLY TO REQUES…”
|
TO ALLOW MEMBERS OF THE GENERAL ASSEMBLY TO REQUEST A SALES AND USE TAX REPORT … | C. Penzo | Died in Senate Committee at Sine Die adjournment. |
|
SB73
· 1 mention in agenda
Matched: “…E ARKANSAS CODE THAT RESULTED FROM INITIATED ACT 1 OF 1996. SB73 B. Johnson TO CREATE THE ACCESS TO CREDIT FOR OUR RURAL ECO…”
|
TO CREATE THE ACCESS TO CREDIT FOR OUR RURAL ECONOMY (ACRE) ACT; AND TO PROVIDE … | B. Johnson | Died in Senate Committee at Sine Die adjournment. |
|
SB82
· 1 mention in agenda
Matched: “…IDE AN INCOME TAX DEDUCTION FOR CERTAIN AGRICULTURAL LOANS. SB82 J. Payton TO INCREASE THE SALES AND USE TAX EXEMPTION FOR U…”
|
TO INCREASE THE SALES AND USE TAX EXEMPTION FOR USED MOTOR VEHICLES; AND TO AMEND … | J. Payton | Died in Senate Committee at Sine Die adjournment. |
Machine transcript
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Senator Jimmy Hickey, Jr
Unverified
0:11
The first item we have is going to be B discussion of legislative reports, I think. We're going to begin with Arkansas Economic development. So if you all want to come
Chair (Senator Jimmy Hickey, Jr)
Unverified
0:19
down to the table and introduce yourself. Which these right here, yes, that's all right, members in your package too, you you
Senator Jimmy Hickey, Jr
Unverified
0:31
should have the 3 that we're going to go over right here. They're listed as You, you've got a bunch of them, but it's gonna be 45, 46, and
Chair (Senator Jimmy Hickey, Jr)
Unverified
0:41
47, I believe. So if you all don't mind, just introduce yourself and then
Speaker 5
0:46
we'll discuss those. Good morning, Clint O'Neill, executive director, AEDC. Morning, Drew Smith,
Speaker 6
0:52
Business finance director, AUDC. Good y'all again. All right,
Chair (Senator Jimmy Hickey, Jr)
Unverified
0:55
if you don't mind, let's begin with number 45, the annual report on the foreign operations, Arkansas Economic Development Commission. Thank you, sir. This is a
Speaker 7
1:07
have. So in the past few years we've had a director of Europe Office,
director of Asia Office. We now have a contract with a firm that represents us in South Korea. This is a report of their activities, trade shows that they've attended just activities to reflect those offices. It's An annual report, it's, it's a rather short report. It's not burdensome to put together, but yet it's, it's a report that, you know, we we don't even put a report like this together for our domestic activities, um, always happy to pull information
like this same as my comment last time. Certainly don't want to be perceived as lacking transparency, but this would be a report that I could see as a if if this committee agrees. You know, would, would be in some ways unnecessary. OK. You've heard the recommendations. Anybody?
Senator Jimmy Hickey, Jr
Unverified
2:04
Anybody have any issue with uh Us doing away with this report. Any discussion?
Anybody in the audience uh want to speak to this recommendation to do away with this report. OK, uh, what we'll do then is we'll get that prepared on that particular one, Senator Crow will will
Speaker 5
2:36
be carrying that. OK. All right, you would go
Speaker 7
2:39
to number 46. Like, so, the next one is BITP the business industry training program, the way it's written is this is a report that's mandated quarterly.
This is a part of funding that we have that we can add to incentive proposals for training funds. So, so the way that it works oftentimes the disbursement of these funds. There, there's can be a significant lag time of when we actually put these in a proposal, the company accepts it and then when they they draw it down, so oftentimes the
quarterly reports are not a real-time reflection of of the activity for particular economic development projects, quarterly. Seems, you know, overly burdensome, although it's, it's a, it's a simple letter. Again, it's not consistent with the way that we report out other incentives and unless otherwise, you know, again, always happy to provide information that's requested, but I could see this one also being somewhat
Speaker 5
3:51
unnecessary if that's the consensus of the committee. OK. Anybody have
Chair (Senator Jimmy Hickey, Jr)
Unverified
3:56
any discussions on that particular report, Senator Crow. So if we wanted
Senator Steve Crowell
Unverified
4:00
this, so it's pretty easy to ask for it and get it, correct? Yes, sir. OK, thank you. Any idea
Senator Jimmy Hickey, Jr
Unverified
4:09
when that was put in or why it was put in. I do not. So
Speaker 12
4:14
that was put in the legislation in 19858. OK. Uh
Senator Jimmy Hickey, Jr
Unverified
4:23
OK. Any, anyone heard the recommendation to eliminate this report. Is anybody in the audience want to speak, uh, speak on this? So we'll give you the opportunity. They see no well then we'll prepare, let's prepare that legislation to do away with that. Senator Crow will get that too. He's gonna carry all of these. OK, number 47 is the biennial report on the rural Services Division of Arkansas Economic Development Commission. Yeah, so it's the name states this is a report we put together
Speaker 7
4:57
our rural services division. These are grants that are required to be approved by ALC, so it's, it's reporting what's already been approved by the legislative body. Again, it's information we're always happy to provide, but you know if it's the consensus of the committee would be OK eliminating this one. OK. Anyone. Have
Speaker 5
5:16
any questions on that? Again, this is somewhat redundant if we've sat
Senator Jimmy Hickey, Jr
Unverified
5:25
in there and heard it in AOC, I guess, and then you're providing report so personally, I have no issues with getting rid of it. Does anybody have any? Other thoughts on it. He went from the audience have any uh Thoughts or want to speak speak on this. OK, same way, then
Chair (Senator Jimmy Hickey, Jr)
Unverified
5:43
let's get that legislation prepared. OK. Anything else? That's it. Thank you, sir. All right, thank you. We appreciate y'all's work on it. Thank you. Yes Senator Hammer, did you have a, do you want to recognize some
Speaker 17
5:55
guests we have in the room? Hey, before you all leave the room, before you all leave the room, we
Senator Kim Hammer
Unverified
6:00
wanted to recognize y'all are part of the homeschooler group here today, and we just want to recognize y'all. Thank you for coming in committee and learning about the process, and we want to thank you young people and your parents and guardians for being here with us today. We just want to give you a shout out. Thank you. OK, thank you, Senator Hammer. OK, we've got 3 bills on the
Senator Jimmy Hickey, Jr
Unverified
6:29
agenda is, uh, Senator Penzo here, SB 7. Anybody here to present it?
Chair (Senator Jimmy Hickey, Jr)
Unverified
6:35
OK, he's in another committee, so we'll just leave it on the agenda, uh, Senator Hammer, SB 200, you want to present that today? All right, members, we're looking at SB 200, Senator Hammer, if you just recognize yourself, and you can begin. Thank you, Mr. Chairman, members
Senator Kim Hammer
Unverified
6:56
Committee, Kim Hammer, state senator, District 16. Go ahead.
Yes, sir. OK, thank you. This is what I'd refer to as a cleanup bill. Last time we ran a bill that would exclude textbooks and other instructional materials that are purchased by schools from being tax exempt. This has no fiscal impact according to the report that you've received and the real life situation that occurred on this matter was a school in my district in several of y'all have had schools in your districts too. I think that have taken advantage of this purchased.
or least some tablets that they were going to use in the in the school environment and there was a debate between the vendor that was providing and the school that was receiving as to whether or not those should have been tax exempt. I consulted with DFA. The intent of the legislation last time was that if they were leased or purchased that they would be tax exempt, and this bill just clarifies that if they are leased they would not have to pay the taxes on them as long as they conformed. To the use within the guidelines
of the legislation, so DFA gave the letter that said yes, they're exempt, but the provider or the vendor just had a little reservation about that, so this is just to clarify that if they are leased, they also would be tax exempt, and so brings clarity to the previous legislation that I passed, and I'll be glad to answer any questions, Mr. Chairman. He went on the committee have any any questions in regards to this? Fairly straightforward. OK. Did
Speaker 16
8:27
anyone in the audience want to speak for or against this bill?
Senator Jimmy Hickey, Jr
Unverified
8:42
OK, you all close? I'm close. Appreciate a good vote and I make a motion to pass. All right, we have a motion Senator Hammer, we have a second by Senator Boyd, Hall of favor say aye. Any oppose? He none that that will uh that bill will pass. Thank you, Senator Hammer. Thank you, Mr. Chairman and members of committee. All right, Senator Crow, you want to present SB 263 today. OK, and you will have an amendment, correct? It's just adding co-sponsors. OK.
Chair (Senator Jimmy Hickey, Jr)
Unverified
9:22
OK, members, we will be here in SB 263. It's in your package? The amendment, the amendments being handed
Speaker 28
9:32
out to you. All right, Senator Crow, if you'd recognize yourself, uh,
Senator Steve Crowell
Unverified
9:53
Steve Krall, District 3. do we want to start with amendment or so we have an amendment. It's simply just adding co-sponsors, OK. Have a, you're making a motion. the amendment, Senator Crow
Senator Jimmy Hickey, Jr
Unverified
10:07
makes a motion to adopt the minute, Senator Boy II, all in favor say I. Can you oppose? OK, that will carry your recognized to present your
Speaker 32
10:15
bill. So, uh, back in 1990, the voters voted in a tax,
Senator Justin Boyd
Unverified
10:25
and we have a trust fund for uh homestead credit. It is doing well, and I believe we need to give it back to. The property owners, so we're going to raise it for the first time, $100. DFNA and BLR have went over this, and there's plenty of money to be able to do this and can sustain everything. Any questions? Senator
Senator Steve Crowell
Unverified
10:45
Boyd, you're recognized, sir. Thank you, Mr.
Senator Justin Boyd
Unverified
10:49
Chair. So I just wanted to clarify, is it
intentional or alphabetical or why did the two pharmacist legislators wind up as the second co-sponsors in their respective chambers. I guess that would
be 100% alphabetical. We started with the lowest
Speaker 37
11:14
IQ and work backwards. You're gonna ask a question like that. Kidding of scores. All right. Any of the
Senator Jimmy Hickey, Jr
Unverified
11:22
members have any questions in regards to this bill?
OK, is there anyone in the audience want to speak for the bill? Anyone
Speaker 32
11:36
want to speak against the bill. You want to close Cinder Crow appreciate a good vote and I make a motion do pass as amended, as amended. OK. All right, Senator Crow made the motion. I heard a second over here,
Senator Jimmy Hickey, Jr
Unverified
11:47
Senator Caldwell, all in favor, say I. Any oppose? Congratulations. OK, is there anything else that's going to come before the committee? We are planning on meeting next week. I know that we will have
at least one bill with no GR state GR impact. So we will be hearing it. OK, with that we're adjourned.
Agenda
A. Call to Order - Sen. Hickey
B. Discussion of Legislative Reports - Arkansas Economic Development Commission
SB200 K. Hammer TO INCLUDE TEXTBOOKS AND OTHER INSTRUCTIONAL MATERIALS THAT ARE LEASED IN THE EXEMPTION FROM THE GROSS RECEIPTS TAX.
SB263 Crowell TO INCREASE THE HOMESTEAD PROPERTY TAX CREDIT.
ADJOURNMENT
Documents
| Title | Type | Pages | Source |
|---|---|---|---|
| Agenda — REVENUE & TAX - SENATE, Feb 26, 2025 | Agenda | 2 | Official source ↗ |
Speakers
Senator Jimmy Hickey, Jr
Unverified
Chair (Senator Jimmy Hickey, Jr)
Unverified
Speaker 5
Speaker 6
Speaker 7
Senator Steve Crowell
Unverified
Speaker 12
Speaker 15
Speaker 17
Senator Kim Hammer
Unverified
Speaker 16
Speaker 28
Speaker 32
Senator Justin Boyd
Unverified
Speaker 37