The bill amends existing laws regarding income tax deductions for moving and travel expenses in Arkansas. It authorizes the Department of Finance and Administration to set the per-mile deduction for travel and transportation expenses through a proclamation. Specifically, the bill introduces new provisions that allow the Secretary of the Department to determine the per-mile deduction amount, which cannot exceed one dollar ($1.00) per mile. Additionally, the Secretary is required to align the per-mile deduction as closely as possible with the amount established by the Internal Revenue Service, issuing a proclamation within thirty days of any changes made by the IRS.

The bill also makes several amendments to existing Arkansas Code sections, including the addition of proclamations issued by the Secretary of the Department of Finance and Administration to the definitions of "rule" under the legislative review process and the Arkansas Administrative Procedure Act. It modifies the language regarding deductions for moving expenses and travel expenses, ensuring that the deductions are clearly defined and regulated. Furthermore, it updates references to specific subsections within the tax code to reflect these changes, streamlining the process for taxpayers and state agencies alike.

Statutes affected:
SB 412: 10-3-309(b), 25-15-202(9), 26-51-403(b), 26-51-423(a), 26-51-423(c), 26-51-423(g), 26-51-437(b)