Rep. Steve Hollowell

Maddy summaryHB 1001 reduces income tax rates for Arkansas residents, including individuals, trusts, estates, and both domestic and foreign corporations. For individuals, the bill establishes a progressive tax structure with rates ranging from 0% to 3.7% for income up to $94,700, while providing a specific tax credit for income between $94,701 and $97,600. Corporations see their tax brackets adjusted starting in 2027, with rates increasing from 1% to 4.1% on net income exceeding $11,000. The legislation also includes provisions for annual adjustments to the individual tax tables to account for inflation or other economic factors.

Maddy summaryHouse Bill 1534 proposes to increase the existing homestead property tax credit. This bill directly affects homeowners by reducing the amount of property taxes they owe on their primary residence. The key mechanism is an adjustment to the credit amount, providing a larger tax reduction for eligible households.

Maddy summarySB 526 proposed to prohibit the retail sale of specific disposable vapor products in Arkansas. It defined a "disposable vapor product" as one with a non-detachable battery that cannot be refilled and is designed for disposal after use. The bill would have banned retailers from selling such products if they originated from a "prohibited foreign party." The Director of Arkansas Tobacco Control could seize non-compliant products, with violations being a Class A misdemeanor, although FDA-approved products were exempt. A 90-day grace period was included for businesses to liquidate existing inventory.

Maddy summarySenate Bill 558 proposes to require certain corporations in Arkansas to file their state income tax returns electronically. This bill directly affects corporations that are already mandated to file their federal income tax returns electronically with the IRS. It also applies to members of an affiliated group if their federal parent corporation is required to file electronically with the IRS. The Secretary of the Department of Finance and Administration can waive this electronic filing requirement if it would cause undue hardship for a taxpayer. These provisions would take effect for tax years beginning on or after January 1, 2025.

Maddy summarySenate Bill 85 restricts the University of Arkansas Board of Trustees from commercially harvesting timber at the Pine Tree Research Station in St. Francis County. The bill allows the Board to manage timber on this property for wildlife purposes. Any contract initiated by the Board for timber management, including harvesting for wildlife purposes, must first be submitted to the Senate and House Committees on Agriculture, Forestry, and Economic Development for review. This measure is intended to preserve public property and the timber at the research station.

Maddy summarySenate Bill 204 proposes to exempt certain financial gains from state gross income for tax purposes. This exemption would apply to taxpayers whose property is acquired by a government or entity under the right of eminent domain or the threat of condemnation. Essentially, any profit a property owner makes from such a forced sale would not be considered taxable income under this bill.

Maddy summarySB 607 aimed to establish requirements for Arkansas public school districts that choose to implement a four-day school week. The bill would authorize local school boards to adopt this schedule, explicitly preventing the State Board of Education from approving or denying their decision. However, the State Board would be required to set standards for state funding distribution and ensure districts provide an average of 30 hours of instruction per week. Districts would also need to provide documentation of their program's success using state-approved tests and include the four-day week on their annual report for community input. A district could forfeit the four-day week option if classified as needing intensive support and showing persistent underperformance.

Maddy summaryHouse Bill 1940 sets requirements for public school districts that choose to implement a four-day school week. The bill outlines how state aid funds will be determined and distributed to these districts. Its primary aim is to ensure that schools operating on a four-day schedule receive an equitable share of state aid. This is intended to guarantee that the educational opportunities provided are equivalent to those offered by districts following a traditional five-day school week.

Maddy summaryHouse Bill 1738 proposes a sales and use tax exemption for disabled veterans and authorized members of their households in Arkansas. To qualify, a disabled veteran must be certified by the U.S. Department of Veterans Affairs and submit a letter to the Department of Finance and Administration (DFA). This exemption applies to sales of tangible personal property, digital products, and services, with an annual maximum limit of $25,000 per disabled veteran. The DFA would issue exemption cards and establish rules for the program.

Maddy summaryHouse Bill 1626, as amended, aimed to prohibit the sale of certain disposable vapor products. The bill's central provision was to ban the sale of disposable vapor products that originate from a "prohibited foreign party," a term defined by referencing an existing legal statute (§ 18-11-802). This measure would have directly impacted retailers selling vapor products and consumers who purchase them. The bill did not pass and died in committee.