An act TO AMEND THE LAW CONCERNING CERTAIN REPORTS OF 10 THE SECRETARY OF THE DEPARTMENT OF FINANCE AND 11 ADMINISTRATION, the official text

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                                          SENATE BILL 386

4

5 By: Senator Crowell

6 By: Representative Cavenaugh

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8                               For An Act To Be Entitled

9   AN ACT TO AMEND THE LAW CONCERNING CERTAIN REPORTS OF

10  THE SECRETARY OF THE DEPARTMENT OF FINANCE AND

11  ADMINISTRATION; TO REPEAL THE LAW REQUIRING THE

12  SECRETARY OF THE DEPARTMENT OF FINANCE AND

13  ADMINISTRATION TO SUBMIT A REPORT CONCERNING CHANGES

14  MADE IN FEDERAL INCOME TAX LAWS AND REGULATIONS; AND

15  FOR OTHER PURPOSES.

16

17

18                                       Subtitle

19                       TO REPEAL THE LAW REQUIRING THE

20                       SECRETARY OF THE DEPARTMENT OF FINANCE

21                       AND ADMINISTRATION TO SUBMIT A REPORT

22                       CONCERNING CHANGES MADE IN FEDERAL

23                       INCOME TAX LAWS AND REGULATIONS.

24

25 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:

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27  SECTION 1. Arkansas Code � 10-3-220 is amended to read as follows:

28  10-3-220. Monitoring of changes made in federal income tax laws and

29 regulations -- Reports of secretary.

30  (a) The Secretary of the Department of Finance and Administration

31 shall monitor changes made in federal income tax laws and regulations for the

32 purpose of determining how the changes may affect Arkansas income tax law and

33 for the purpose of determining how the changes differ from provisions adopted

34 for Arkansas income tax purposes.

35  (b) The secretary shall report his or her findings annually to the

36 House Committee on Revenue and Taxation and the Senate Committee on Revenue

    *JLL175*                                                     03/05/2025 9:57:52 AM JLL175
   SB386

 1 and Taxation and may make such other reports to the House Committee on
 2 Revenue and Taxation and the Senate Committee on Revenue and Taxation as he
 3 or she deems necessary.
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