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--- version:HR 1006
+++ version:(document, no version)
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-*MBM243* 04/08/2026 9:23:55 AM MBM243
-State of Arkansas     1
-95th General Assembly       2
-Fiscal Session, 2026  HR 1006 3
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-By: Representative Schulz 5
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-HOUSE RESOLUTION 8
-TO AUTHORIZE THE INTRODUCTION OF A NONAPPROPRIATION 9
-BILL TO INCREASE THE HOMESTEAD PROPERTY TAX CREDIT.   10
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-Subtitle 13
-TO AUTHORIZE THE INTRODUCTION OF A 14
-NONAPPROPRIATION BILL TO INCREASE THE 15
-HOMESTEAD PROPERTY TAX CREDIT.   16
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-BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES OF THE NINETY-FIFTH GENERAL 19
-ASSEMBLY OF THE STATE OF ARKANSAS: 20
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- THAT Representative Schulz is authorized to introduce a bill which as 22
-introduced will read substantially as follows:   23
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-"Title 25
-AN ACT TO INCREASE THE HOMESTEAD PROPERTY TAX CREDIT; AND FOR OTHER PURPOSES.   26
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-Subtitle 28
-TO INCREASE THE HOMESTEAD PROPERTY TAX CREDIT.   29
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-BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:   31
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- SECTION 1.  Arkansas Code § 26-26-1118(a)(1)(A), concerning the 33
-homestead property tax credit, is amended to read as follows: 34
- (a)(1)(A)  There is established a homestead property tax credit for 35
-each assessment year that reduces the amount of real property taxes assessed 36
-  HR1006
+State of Arkansas
+Department of Finance and Administration
+Fiscal Impact Statement
 
- 2 04/08/2026 9:23:55 AM MBM243
-on the homestead of each property owner by six hundred dollars ($600) six 1
-hundred seventy-five dollars ($675). 2
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- SECTION 2.  EFFECTIVE DATE.  Section 1 of this act is effective for 4
-assessment years beginning on or after January 1, 2026." 5
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+Bill: HR1006
+Bill Subtitle: TO AUTHORIZE THE INTRODUCTION OF A NONAPPROPRIATION BILL TO
+INCREASE THE HOMESTEAD PROPERTY TAX CREDIT.
+----------------------------------------------------------------------------------------------------------------------------- ----------
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+ 4/15/2026  9:02 AM                                                1
+Sponsor :
+
+Rep. Schulz
+
+Basic Change :
+
+HR1006 authorizes the introduction of a nonappropriation bill that would increase the Homestead
+Property Tax Credit from $600 to $675. The Homestead Property Tax Credit reduces the amount of
+real property taxes due on a property owner's qualified homestead for each assessment year. To claim
+the credit, a property owner registers with the county assessor and provides proof of eligibility for the
+credit.
+
+HR1006 is effective for assessment years beginning on or after January 1, 2026.
+
+Fiscal Impact :
+
+CY2027 Total impact of Increased Tax Credits - $39,800,000
+CY2028 Total impact of Increase Tax Credits - $40,400,000
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+HR1006 will have no impact on general revenue.
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+Taxpayer Impact :
+
+A homeowner who receives the Homestead Property Tax Credit will receive a credit of $675 against
+his or her real property tax liability.
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+Resources Required :
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+County Assessors and Tax Collectors will require software changes.
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+Time Required :
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+Adequate time is provided for implementation.
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+Procedural Changes :
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+County Assessors, Tax Collectors, and the taxpayer community will need to be notified of the
+increased tax credit amount.
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+Other Comments :
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+None.
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+Legal Analysis :
+
+None.