Bill Summary – FastDemocracy

Stricken language would be deleted from and underlined language would be added to present law.
                                           Act 935 of the Regular Session
 1   State of Arkansas
 2   93rd General Assembly                        A Bill
 3   Regular Session, 2021                                                             HOUSE BILL 1457
 4
 5   By: Representatives Eaves, Cloud, Bentley, Vaught, Dotson, Clowney, Scott
 6
 7                                     For An Act To Be Entitled
 8                  AN ACT TO CREATE PAISLEY'S LAW; TO AMEND THE
 9                  INDIVIDUAL INCOME TAX LAWS; TO CREATE AN INCOME TAX
10                  CREDIT FOR A STILLBORN CHILD; AND FOR OTHER PURPOSES.
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13                                                 Subtitle
14                           TO CREATE PAISLEY'S LAW; TO AMEND THE
15                           INDIVIDUAL INCOME TAX LAWS; AND TO CREATE
16                           AN INCOME TAX CREDIT FOR A STILLBORN
17                           CHILD.
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19
20   BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
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22          SECTION 1.        Arkansas Code Title 26, Chapter 51, Subchapter 5, is
23   amended to add an additional section to read as follows:
24          26-51-515.        Paisley's Law  Stillborn child tax credit  Definition.
25          (a)    This section shall be known and may be cited as "Paisley's Law".
26          (b)    There is allowed an income tax credit against the income tax
27   imposed by this chapter in the amount of five hundred dollars ($500) for a
28   stillborn child:
29                  (1)      Who was in gestation for twenty (20) weeks or more;
30                  (2)      For whom a certificate of birth resulting in stillbirth has
31   been issued under  20-18-410; and
32                  (3)      Who would have been a dependent of the taxpayer during the
33   taxable year.
34          (c)    The income tax credit allowed under this section may be claimed
35   only for the taxable year in which the birth resulting in stillbirth occurs.
36          (d)    The amount of the income tax credit under this section that may be
     *JLL054*                                                                  02/08/2021 1:44:40 PM JLL054
                                                                             HB1457
 1   claimed by the taxpayer in a taxable year shall not exceed the amount of
 2   income tax due by the taxpayer.
 3        (e)   As used in this section, "stillbirth" means the same as defined in
 4    20-18-410.
 5
 6        SECTION 2.   EFFECTIVE DATE.   Section 1 of this act is effective for tax
 7   years beginning on or after January 1, 2021.
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10                                 APPROVED: 4/26/21
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