SB 1 — 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 — EMERGENCY CLAUSE ADOPTED
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✓Introduced
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✓In Committee
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3Passed Senate
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4Passed House
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5To Executive
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6Enacted
This bill died with 2024 Second Extraordinary Session. It reached “Passed Senate” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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
- SB 1 View text Current pdf
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.
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Arkansas Code § 26-51-201(a)(3)
eighty-seven thousand dollars ($87,000)→ eighty-nine thousand six hundred dollars ($89,600)The threshold for the lower income tax rate is increased from $87,000 to $89,600.
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Arkansas Code § 26-51-201(a)(3)
eighty-nine thousand six hundred dollars ($89,600)→ eighty-seven thousand dollars ($87,000)The threshold for the higher income tax rate is adjusted to match the new lower threshold.
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Arkansas Code § 26-51-201(a)(3)
4.4%→ 3.9%The tax rate for income between $87,000 and $89,600 is reduced from 4.4% to 3.9%.
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Arkansas Code § 26-51-205(a)(5)
four and eight-tenths percent (4.8%)→ four and three-tenths percent (4.3%)The corporate income tax rate for net income over $11,000 is reduced from 4.8% to 4.3%.
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Arkansas Code § 26-51-205(b)(5)
four and eight-tenths percent (4.8%)→ four and three-tenths percent (4.3%)The foreign corporate income tax rate for net income over $11,000 is reduced from 4.8% to 4.3%.
Action History
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EMERGENCY CLAUSE ADOPTED
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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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EMERGENCY CLAUSE ADOPTED
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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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Read first time, rules suspended, read second time, referred to REVENUE & TAX - SENATE
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Filed
Sponsors
- Jonathan Dismang · Primary
Sponsorship breakdown
Export CSV (upgrade) →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.
Show all 137 →"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.
Subjects
Frequently asked questions
- Who sponsors SB 1?
- SB 1 is sponsored by Jonathan Dismang.
- What is the current status of SB 1?
- This bill died with 2024 Second Extraordinary Session. It reached “Passed Senate” 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 SB 1?
- Track SB 1 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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