Politics

Arkansas House Daily Summary – April 4

 

 

 

Information Provided by Arkansas House of Representatives

  • In a vote of 68-20, with two members voting present, the House passed HJR1008. This is a proposed constitutional amendment for the November 2020 ballot.
    • This amendment would change how future constitutional amendments make it on the ballot.
    • For those proposed by the General Assembly, it would increase the vote requirement to a 3/5 majority. Currently, it takes a simple majority on the first two amendments and a 2/3 vote to introduce a third a proposal.
    • This would also require citizen-initiated petitions to be filed by January 15 of the election year.  Challenges would have to be filed by April 15. It eliminates the current cure period to collect additional signatures.
    • It also states that it shall be necessary to file petitions from at least 45 counties bearing the signature of at least ½ of the designated percentage of the electors.  Currently, signatures are needed from 15 counties.
  • The House passed SB576. This bill requires out of state online retailers to collect and remit state sales tax.
    • The bill also phases in a reduction in the top corporate income tax rate from 6.5% to 5.9%.
    • It extends the carry-forward period for net operating losses for businesses from 5 years to 10 years. SB576 changes the apportionment formula for corporations and also makes changes to taxes for carwashes.

 

Tags

Leave a Reply

Back to top button