The bill amends the law concerning the reporting responsibilities of the Secretary of the Department of Finance and Administration regarding changes in federal income tax laws and regulations. Specifically, it repeals the requirement for the Secretary to submit an annual report detailing how these changes may affect Arkansas income tax law and how they differ from state provisions.

As a result of this amendment, the language that previously mandated the Secretary to report findings to the House and Senate Committees on Revenue and Taxation has been removed. The bill aims to streamline the responsibilities of the Secretary by eliminating the reporting requirement, thereby allowing for a more efficient monitoring process without the obligation to formally report to legislative committees.