Senate Revenue & Tax committee advances five tax bills by voice vote; film incentive also cleared
March 30, 2023 | REVENUE & TAX - SENATE, Senate, Committees, Legislative, Arkansas
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The Senate Revenue & Tax committee advanced five bills by voice vote and approved a separate film-incentive revision during its session.
The committee approved changes to how certain tax credits are applied and extended program deadlines without recorded roll-call tallies. Senate Bill 4 61 adjusts application rules for a refundable, sellable credit to benefit smaller towns by setting tiered qualifying percentages (40% for communities under 10,000; 35% for 10,000–50,000; 30% above 50,000) and retains an $8,000,000 program cap. Presenter (Speaker 2) told members the change is designed to improve participation for smaller communities; Senator Peyton moved the motion to pass, and Senator Crowell seconded. The committee approved the bill by voice vote.
Senate Bill 4 62 was described as a simple date change extending a program from 2025 to 2030; Senator Crowell moved, Senator Deese seconded, and the committee approved it by voice vote. Senate Bill 4 82 was presented as a clarification for railroad apportionment, allowing railroads to choose between three-factor apportionment and a single-sales-factor method; the presenter said the bill removes confusion and avoids promulgating a new Department of Finance and Administration rule. Senator Payton moved the bill, a colleague seconded, and the bill passed by voice vote.
House Bill 15 94 would exempt certain gross receipts tied to specified digital projects and sales associated with the Disabled American Veterans organization; the presenter estimated about a $1,000 revenue impact. Senator Crowe moved the motion, Senator Deas seconded, and the committee approved the measure by voice vote.
All of the above measures were advanced on voice votes without roll-call tallies recorded in the transcript. The committee recorded no public commenters on these agenda items.
What comes next: Each bill will proceed according to Senate procedures for floor consideration and any additional committee referrals. Because votes were taken by voice, individual yea/nay tallies were not recorded in the transcript of this meeting.
The committee approved changes to how certain tax credits are applied and extended program deadlines without recorded roll-call tallies. Senate Bill 4 61 adjusts application rules for a refundable, sellable credit to benefit smaller towns by setting tiered qualifying percentages (40% for communities under 10,000; 35% for 10,000–50,000; 30% above 50,000) and retains an $8,000,000 program cap. Presenter (Speaker 2) told members the change is designed to improve participation for smaller communities; Senator Peyton moved the motion to pass, and Senator Crowell seconded. The committee approved the bill by voice vote.
Senate Bill 4 62 was described as a simple date change extending a program from 2025 to 2030; Senator Crowell moved, Senator Deese seconded, and the committee approved it by voice vote. Senate Bill 4 82 was presented as a clarification for railroad apportionment, allowing railroads to choose between three-factor apportionment and a single-sales-factor method; the presenter said the bill removes confusion and avoids promulgating a new Department of Finance and Administration rule. Senator Payton moved the bill, a colleague seconded, and the bill passed by voice vote.
House Bill 15 94 would exempt certain gross receipts tied to specified digital projects and sales associated with the Disabled American Veterans organization; the presenter estimated about a $1,000 revenue impact. Senator Crowe moved the motion, Senator Deas seconded, and the committee approved the measure by voice vote.
All of the above measures were advanced on voice votes without roll-call tallies recorded in the transcript. The committee recorded no public commenters on these agenda items.
What comes next: Each bill will proceed according to Senate procedures for floor consideration and any additional committee referrals. Because votes were taken by voice, individual yea/nay tallies were not recorded in the transcript of this meeting.
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