HR1006
To Authorize The Introduction Of A Nonappropriation Bill To Increase The Homestead Property Tax Credit.
Last Action (April 8, 2026): Returned by the Committee Do Pass
Sponsors
AI-Generated Summary
House Resolution 1006 authorizes the introduction of legislation to amend the Arkansas homestead property tax credit. Specifically, the proposed bill seeks to increase the existing homestead property tax credit from $600 to $675 per assessment year. The change is intended to be applicable for assessment years beginning on or after January 1, 2026. This resolution serves as the procedural step required to introduce the nonappropriation bill for legislative consideration.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries are residential property owners in Arkansas who qualify for the homestead property tax credit, as they would see an increase in the tax relief provided on their primary residences.
Who Might Suffer?
The primary entities negatively impacted would be state or local government jurisdictions that rely on property tax revenue, as the increase in the credit will result in a reduction of property tax collections available for public services and budget allocations.
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