Arkansas 2024 Second Extraordinary Session Status: Passed House

HB 1001 — TO REDUCE THE INCOME TAX LEVIED ON INDIVIDUALS, TRUSTS, ESTATES, AND CORPORATIONS; TO TRANSFER SURPLUS FUNDS TO THE ARKANSAS RESERVE FUND SET-ASIDE; AND TO DECLARE AN EMERGENCY.

Last action — Correctly enrolled and ordered transmitted to the Governor's Office.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2024 Second Extraordinary Session. It reached “Passed House” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

How this bill changes current law

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AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill reduces income tax rates for individuals, trusts, estates, and corporations in Arkansas.

  • Arkansas Code § 26-51-201(a)(3)

    eighty-seven thousand dollars ($87,000) → eighty-nine thousand six hundred dollars ($89,600)

    Increases the income threshold for the first tax bracket.

  • Arkansas Code § 26-51-201(a)(3)

    four and eight-tenths percent (4.8%) → four and three-tenths percent (4.3%)

    Reduces the tax rate for income exceeding eleven thousand dollars.

  • Arkansas Code § 26-51-205(a)(5)

    four and eight-tenths percent (4.8%) → four and three-tenths percent (4.3%)

    Reduces the corporate income tax rate on net income over eleven thousand dollars.

  • Arkansas Code § 26-51-205(b)(5)

    four and eight-tenths percent (4.8%) → four and three-tenths percent (4.3%)

    Reduces the corporate income tax rate for foreign corporations on net income over eleven thousand dollars.

  • two hundred ninety million dollars ($290,000,000)

    Allocates surplus funds to the Arkansas Reserve Fund Set-Aside.

Action History

  1. Correctly enrolled and ordered transmitted to the Governor's Office.

  2. TO BE ENROLLED

  3. Returned to the House as passed.

  4. EMERGENCY CLAUSE ADOPTED

  5. Read the third time and passed.

  6. Returned by the Committee, with the recommendation that it Do Pass

  7. Read first time, rules suspended, read second time, referred to REVENUE & TAX - SENATE

  8. Received from the House.

  9. EMERGENCY CLAUSE ADOPTED

  10. Read the third time and passed and ordered transmitted to the Senate.

  11. Returned by the Committee Do Pass

  12. Read the first time, rules suspended, read the second time and referred to the Committee on REVENUE & TAXATION- HOUSE

  13. Filed

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 137 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (137)

137 members have not signed on to this bill.

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"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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors HB 1001?
HB 1001 is sponsored by Les D. Eaves.
What is the current status of HB 1001?
This bill died with 2024 Second Extraordinary Session. It reached “Passed House” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 1001?
Track HB 1001 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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