This bill amends the income tax deduction for teachers' classroom expenses in Arkansas. Specifically, it increases the maximum deduction allowed for individual taxpayers from $500 to $750, and for married couples filing jointly, it raises the limit from $1,000 to $1,500, provided that both taxpayers are teachers.

Additionally, the bill establishes an effective date for these changes, stating that the new deduction limits will apply to tax years beginning on or after January 1, 2023. This amendment aims to provide greater financial support to teachers by allowing them to deduct a larger portion of their classroom expenses from their taxable income.

Statutes affected:
Old version HB1345 Original - 2-2-2023 11:33 AM: 26-51-459(c)
Old version HB1345 V2 - 3-29-2023 10:49 AM: 26-51-459(c)
HB 1345: 26-51-459(c)