Shown verbatim: the complete text as captured from the official PDF posted by the Arkansas General Assembly, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
Stricken language would be deleted from and underlined language would be added to present law.
1 State of Arkansas A Bill
2 95th General Assembly
3 Regular Session, 2025 HOUSE BILL 1501
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5 By: Representative Beaty Jr.
6 By: Senator Gilmore
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8 For An Act To Be Entitled
9 AN ACT TO AMEND THE LAW CONCERNING THE INCOME TAX
10 DEDUCTION ALLOWED REGARDING DEPRECIATION AND THE
11 EXPENSING OF PROPERTY; TO ADOPT FEDERAL INCOME TAX
12 LAW REGARDING DEPRECIATION AND THE EXPENSING OF
13 PROPERTY; TO INCREASE THE AMOUNT ALLOWED FOR THE
14 EXPENSING OF CERTAIN DEPRECIABLE BUSINESS ASSETS
15 UNDER THE STATE INCOME TAX LAW TO THE AMOUNT ALLOWED
16 UNDER THE FEDERAL INCOME TAX LAWS; AND FOR OTHER
17 PURPOSES.
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20 Subtitle
21 TO ADOPT FEDERAL INCOME TAX LAW
22 REGARDING DEPRECIATION AND THE EXPENSING
23 OF PROPERTY; AND TO INCREASE THE AMOUNT
24 ALLOWED FOR THE EXPENSING OF CERTAIN
25 DEPRECIABLE BUSINESS ASSETS TO THE
26 AMOUNT ALLOWED UNDER FEDERAL LAW.
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28 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
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30 SECTION 1. Arkansas Code � 26-51-428(a), concerning the income tax
31 deduction for depreciation and expensing of property, is amended to read as
32 follows:
33 (a)(1) Title 26 U.S.C. �� 167 and 168(a)-(j), as in effect on January
34 1, 2019, are adopted for the purpose of computing Arkansas income tax
35 liability for property purchased in tax years beginning on or after January
36 1, 2014.
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HB1501
1 (2) Title 26 U.S.C. � 168(k), as in effect on January 1, 2024,
2 is adopted for the purpose of computing Arkansas income tax liability for
3 property purchased in tax years beginning on or after January 1, 2025.
4 (3) Title 26 U.S.C. � 179, as in effect on January 1, 2022, is
5 adopted for the purpose of computing Arkansas income tax liability for
6 property purchased in tax years beginning on or after January 1, 2022.
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8 SECTION 2. EFFECTIVE DATE. Section 1 of this act is effective for tax
9 years beginning on or after January 1, 2025.
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2 02/17/2025 11:48:12 AM JLL217Every fact on this page links to its source, starting with the official bill record.