Governor Sanders calls special session

Governor Sarah Huckabee Sanders recently called a Special Session of the General Assembly that will take place today at 12pm in Little Rock. With the state’s financial stability, increased economic growth, healthy reserve accounts, and conservative spending policies, additional tax reductions can be enacted to provide further tax relief during this period of heightened inflation under Bidenomics. There is a need to make an appropriation for expenses of the Arkansas Game and Fish Commission for the fiscal year ending June 30th, 2025. 

The purpose of this session is to have the individual income tax brackets and rates to a top tax rate of 3.9 percent that was effective January 1st, 2024, and the following years along with amending the income tax brackets and rates for domestic and foreign corporations to a top tax rate of 4.3 percent. They also will be discussing the transferring of 290 million dollars to the Arkansas Reserve Fund Set aside in the restricted reserve fund which will be effective July 2nd, 2024, to increase the homestead tax credit from $425 to $500 which will be effective for the assessment years and to provide for payment of expenses and per diem of the House of Representatives and the Senate for this Extraordinary Session.