Homestead Property Tax Credit bill passes

Submitted By Representative Joey Carr

This week, the House voted 96-0 in favor of a bill to increase the Homestead Property Tax Credit. HB1534 increases the credit from $500 to $600 effective January 1, 2025.

This is the second time in 2 years the General Assembly has increased this tax credit. In June of 2024, the General Assembly increased the credit from $425 to $500.

In the year 2000, the citizens of Arkansas voted overwhelmingly to create the Homestead Tax Credit. Over time the Property Tax Relief Fund has grown precipitating several increases. The increase passed this week is the largest increase in the history of the tax credit.

Since the credit is funded by the Tax Relief Fund, there is no impact to state general revenue.

Other bills that passed the House this week include HB1489, which proposes adding nitrogen gas as an approved method of execution.

HB1370, which requires school districts to make up the first seven missed school days with in-person instruction, was approved. If more than seven days are missed, the bill allows school districts to use alternative instruction methods for up to three additional days to meet the required number of instructional days.

SB48 was passed, requiring deductibles to be disclosed in one easily accessible location on homeowners insurance policies.

The House passed HB1581. This bill adds the offenses of trafficking persons and grooming a minor for future sex trafficking to the list of offenses included in the definition of sex offense for the rights of victims in a crime.

HB1552 also passed. This bill classifies criminal attempts, solicitation, and conspiracy for specific fentanyl-related offenses as Class Y felonies.

The General Assembly will enter the 9th week of the 2025 Regular Session on Monday. You can watch all House meetings at arkansashouse.org.