Stricken language would be deleted from and underlined language would be added to present law.
1 State of Arkansas
2 94th General Assembly A Bill
3 Regular Session, 2023 SENATE BILL 460
4
5 By: Senator J. Dismang
6 By: Representative Eaves
7
8 For An Act To Be Entitled
9 AN ACT TO AMEND THE ARKANSAS HISTORIC REHABILITATION
10 INCOME TAX CREDIT ACT; TO INCREASE THE MAXIMUM AMOUNT
11 OF ARKANSAS HISTORIC REHABILITATION INCOME TAX
12 CREDITS THAT MAY BE ISSUED IN A FISCAL YEAR; AND FOR
13 OTHER PURPOSES.
14
15
16 Subtitle
17 TO AMEND THE ARKANSAS HISTORIC
18 REHABILITATION INCOME TAX CREDIT ACT; AND
19 TO INCREASE THE MAXIMUM AMOUNT OF
20 ARKANSAS HISTORIC REHABILITATION INCOME
21 TAX CREDITS THAT MAY BE ISSUED IN A
22 FISCAL YEAR.
23
24
25 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
26
27 SECTION 1. Arkansas Code § 26-51-2204(c)(1), concerning the Arkansas
28 historic rehabilitation income tax credit, is amended to read as follows:
29 (c)(1)(A) The Division of Arkansas Heritage shall only issue Arkansas
30 historic rehabilitation income tax credits for up to four million dollars
31 ($4,000,000) in any one (1) fiscal year.
32 (B) Beginning For fiscal year 2022, the division shall
33 only issue Arkansas historic rehabilitation income tax credits for up to
34 eight million dollars ($8,000,000) in any one (1) fiscal year.
35 (C) Beginning fiscal year 2024, the division shall only
36 issue Arkansas historic rehabilitation income tax credits for up to fifteen
*JLL303* 03/23/2023 8:47:15 AM JLL303
 SB460
1 million dollars ($15,000,000) in any one (1) fiscal year.
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
2 03/23/2023 8:47:15 AM JLL303


Statutes affected:
SB 460: 26-51-2204(c)