The 94th General Assembly Regular Session in Arkansas concluded on May 1, 2023. The session saw significant legislative activity under the new governor, who aimed to reform education, criminal justice, and implement tax cuts.
Senator Jonathan Dismang from Searcy introduced SB549 alongside Governor Sanders. Now known as Act 532 of 2023, this legislation reduced individual income tax rates from 4.9% to 4.7%, and business rates from 5.3% to 5.1%. This change is expected to affect 1.1 million residents by reducing personal income taxes by $150 million and corporate taxes by $36 million.
In terms of youth employment, Representative Rebecca Burkes and Senator Clint Penzo from Springdale put forward HB1410. Once signed by the governor, it became Act 195 of 2023, removing the requirement for employers of minors to obtain an employment certificate from the Department of Labor and have their files reviewed by the Department of Education.
Representative Aaron Pilkington from Clarksville and Senator Clint Penzo also proposed HB1669 to halt fee collection on new businesses in Arkansas. Despite support from NFIB members urging officials to pass this bill, it was not addressed in the House Revenue and Taxation Committee.
