HB1046
To Amend The Law Governing State Sales And Use Taxes Regarding Wheelchair-accessible Motor Vehicles.
Last Action (Jan. 3, 2023): Recommended for study in the Interim by Joint Interim Committee on REVENUE & TAXATION- HOUSE
Sponsors
AI-Generated Summary
House Bill 1046 amends Arkansas state tax law to provide a sales and use tax exemption for the purchase of wheelchair-accessible motor vehicles and for aftermarket services required to make a vehicle wheelchair-accessible. The bill defines 'wheelchair-accessible motor vehicle' as a vehicle modified to allow a person to enter or exit while in a wheelchair. It also defines 'aftermarket wheelchair accommodation services' as the modification of a vehicle to accommodate a person and a wheelchair simultaneously. The Department of Finance and Administration is authorized to adopt rules to implement these exemptions. The act is set to take effect on the first day of the second calendar month following the bill's effective date.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries are individuals with physical disabilities who require wheelchair-accessible transportation, as the bill reduces the total cost of purchasing such vehicles or modifying existing ones. Additionally, caregivers, family members of individuals with disabilities, and organizations that provide transportation services for the disabled stand to benefit from reduced capital expenditure requirements for specialized vehicles.
Who Might Suffer?
The state government of Arkansas would be negatively impacted in the sense that it would experience a reduction in sales and use tax revenue derived from the sale of these vehicles and modification services. No other group is identified as being directly or significantly disadvantaged by the implementation of this tax exemption.
Get Notified
Receive an email when this bill's status changes.