SB 478 — TO PROVIDE ADDITIONAL FUNDING FOR THE ARKANSAS PORT, INTERMODAL, AND WATERWAY DEVELOPMENT GRANT PROGRAM FUND; AND TO CREATE A WATERWAYS INVESTMENT INCOME TAX CREDIT.
Last action — Notification that SB478 is now Act 881
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✓Introduced
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✓In Committee
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✓Passed Senate
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✓Passed House
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced March 24, 2023. Enacted.
Signed by Governor Sarah Huckabee Sanders (Republican) on April 13, 2023.
Odds of enactment
High chanceBased on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.
Upgrade to see the exact probability and what's driving it.
A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.
Prognosis
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Enacted
Current position in the legislative process.
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2 sponsors
2 primary, 0 co-sponsors signed on.
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Cleared a recorded vote
Passed 2 recorded votes so far.
Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.
Bill Text
What changed in the latest version
1 added · 2 removedPlain-language change summary
The amendment to Bill SB 478 adds a new provision while removing a previous reference to Act 881 from the Regular Session. This change likely updates the bill to reflect current laws or relevant decisions that affect its implementation. It’s important because it ensures that the legislation aligns with the most recent legal framework and further clarifies its intention.
Act 881 of the Regular Session State of Arkansas As Engrossed:
Dismang APPROVED:4 03-29-2023 09:47:19 JLL310
4/13/23 4 03-29-2023 09:47:19 JLL310
AI-generated reading aid from the bill's amendatory text — verify against the official bill.
The bill amends existing laws to provide additional funding for a grant program and creates a new investment tax credit for water transportation improvements.
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Arkansas Code § 15-23-205(a)
are also eligible for funding under this section.; andRemoves the eligibility clause for additional funding under the Arkansas Port, Intermodal, and Waterway Development Grant Program.
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Arkansas Code § 26-26-1616(d)(2)
Thirty percent (30%) shall be credited to the Arkansas→ Thirty percent (30%) shall be credited to the Arkansas Port, Intermodal, and Waterway Development Grant Program Fund to be used exclusively for the purposes stated in § 15-23-205.Changes the usage of funds credited to the Arkansas Port, Intermodal, and Waterway Development Grant Program Fund to align with the purposes outlined in § 15-23-205.
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Arkansas Code Title 26, Chapter 51, Subchapter 5
26-51-517. Waterways investment tax credit. (a) There is allowed an income tax credit against the income tax imposed by this chapter in the amount stated in subsection (b) of this section for the cost of making capital improvements to a facility or property related to using water transportation in the state, including without limitation the construction, improvement, capital facility rehabilitation, and expansion of a waterway facility and the construction or improvement of rail or road access to a waterway facility, on or after January 1, 2024, and on or before December 31, 2025.
Creates a new income tax credit for capital improvements related to water transportation facilities.
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Arkansas Code Title 26, Chapter 51, Subchapter 5
(b)(1) Except as otherwise provided in this subsection, the tax credit allowed under subsection (a) of this section shall not exceed three million dollars ($3,000,000) for a taxpayer that makes the capital improvements to a facility or property related to using water transportation in the state.
Establishes a cap on the amount of the tax credit available for taxpayers making eligible capital improvements.
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Arkansas Code Title 26, Chapter 51, Subchapter 5
(c) Any unused income tax credit that cannot be claimed in a tax year because of the limit stated in subdivision (b)(2) of this section may be carried forward for nine (9) consecutive tax years following the tax year in which the income tax credit was earned.
Allows for the carryforward of unused income tax credits for up to nine years.
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Arkansas Code Title 26, Chapter 51, Subchapter 5
(d) A taxpayer is not eligible for the credit allowed under this section if the taxpayer has received funds under the Arkansas Port, Intermodal, and Waterway Development Grant Program.
Establishes eligibility criteria restricting taxpayers who have received grant funds from claiming the new tax credit.
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Arkansas Code Title 26, Chapter 51, Subchapter 5
(e) The Secretary of the Department of Finance and Administration shall: (1) Promulgate rules to implement this section; (2) Review the overall economic impact of this section on or before December 31, 2030, and again on or before December 31, 2035; and (3) Report his or her findings under subdivision (e)(2) of this section to the Legislative Council or, if the General Assembly is in session, to the Joint Budget Committee within thirty (30) days of completing the required review.
Imposes requirements for regulatory implementation and economic impact assessments of the newly created tax credit.
Amendments
1 amendment- Amendment S1 March 28, 2023 Show changes
Click Show changes on an amendment above to see how it modifies the bill.
Action History
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Notification that SB478 is now Act 881
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DELIVERED TO GOVERNOR.
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Reported correctly enrolled and ordered delivered to the Governor.
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ORDERED ENROLLED
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Returned from the House as passed.
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Returned To the Senate as passed.
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Read the third time and passed and ordered transmitted to the Senate.
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Returned by the Committee Do Pass
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Read the first time, rules suspended, read the second time and referred to the Committee on REVENUE & TAXATION- HOUSE
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RECEIVED FROM THE SENATE
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Ordered immediately transmitted to the House.
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Read the third time and passed.
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Returned by the Committee, with the recommendation that it Do Pass
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Re-referred to REVENUE & TAX - SENATE
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REPORTED CORRECTLY ENGROSSED
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Amendment # 1 read the first time, rules suspended, read the second time and adopted, ordered engrossed.
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Placed on second reading for purpose of amendment.
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Withdrawn from Committee for purpose of amendment # 1
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Read first time, rules suspended, read second time, referred to REVENUE & TAX - SENATE
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Filed
Sponsors
- Eaves · Primary
- Jonathan Dismang · Primary
Sponsorship breakdown
Export CSV (upgrade) →2 sponsors · 0 co-sponsors · 136 not signed on · 6 voted No
Sponsors (2)
- Eaves
- Jonathan Dismang
Co-sponsors (0)
None.
Not signed on (136)
136 members have not signed on to this bill.
Show all 136 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 92 | 6 | 0 | 2 |
| Total | 92 | 6 | 0 | 2 |
| % of votes cast | 92% | 6% | 0% | 2% |
How each member voted (100)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 33 | 1 | 0 | 1 |
| Total | 33 | 1 | 0 | 1 |
| % of votes cast | 94% | 3% | 0% | 3% |
How each member voted (35)
| Member | Party | Vote |
|---|---|---|
| Alan Clark | — | Yea |
| Bart Hester | — | Yea |
| Ben Gilmore | — | Yea |
| Blake Johnson | — | Yea |
| Breanne Davis | — | Yea |
| Bryan King | — | Yea |
| C. Tucker | — | Yea |
| Clint Penzo | — | Yea |
| Dan Sullivan | — | Yea |
| Dave Wallace | — | Yea |
| Fredrick J. Love | — | Yea |
| G. Stubblefield | — | Yea |
| Greg Leding | — | Yea |
| Jane English | — | Yea |
| Jim Dotson | — | Yea |
| Jim Petty | — | Yea |
| Jimmy Hickey, Jr | — | Yea |
| John Payton | — | Nay |
| Jonathan Dismang | — | Yea |
| Joshua Bryant | — | Yea |
| Justin Boyd | — | Yea |
| Kim Hammer | — | Yea |
| L. Chesterfield | — | Yea |
| Mark Johnson | — | Yea |
| Matt McKee | — | Yea |
| Matt Stone | — | Yea |
| Missy Irvin | — | Yea |
| Reginald Murdock | — | Yea |
| Ricky Hill | — | Yea |
| Ronald Caldwell | — | Not Voting |
| S. Flowers | — | Yea |
| Scott Flippo | — | Yea |
| Steve Crowell | — | Yea |
| Terry Rice | — | Yea |
| Tyler Dees | — | Yea |
Subjects
Frequently asked questions
- Who sponsors SB 478?
- SB 478 is sponsored by Eaves and Jonathan Dismang.
- What is the current status of SB 478?
- This bill has been enacted into law. Introduced March 24, 2023. Enacted.
- Where can I track SB 478?
- Track SB 478 free on One Click Politics — get push/email alerts when it moves.
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