The bill proposes amendments to the existing law regarding tax credits for individual political contributions in Arkansas. Specifically, it seeks to increase the maximum allowable tax credit for individual contributions from fifty dollars ($50) to one hundred dollars ($100) and for joint returns from one hundred dollars ($100) to two hundred dollars ($200). These changes are intended to encourage greater political participation by providing more substantial financial incentives for individuals to contribute to political campaigns.

The amendments affect Arkansas Code 7-6-222(b) and involve modifications to portions of Initiated Act 1 of 1996. By raising the limits on tax credits, the bill aims to enhance the financial support for political contributions, thereby potentially increasing engagement in the political process among Arkansas residents.

Statutes affected:
SB 589: 7-6-222(b)