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Legislative Update/IIAA Insider - February 1, 2019
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THIRD WEEK OF SESSION COMPLETED
We have just completed the third week of the legislative session and the entire body has yet to meet for the full five days of any week. To date, the House has filed 345 bills and the Senate has filed 228 bills for a total of 573. Lots of bill introductions but the committee review process is moving slowly, in fact, many committees are already seeing huge back-ups in the bills to be considered.
Fortunately, there are very few insurance related bills to be considered. There were only five insurance related bill introductions this week, so this legislative update will be short and abbreviated...
but we're not complaining!
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TAX REDUCTIONS
The first two steps of Governor Hutchinson's Tax Reduction proposal were implemented in the legislative sessions of 2015 and 2017, and they addressed low and middle income wage earners. SB 211 by Sen. Jonathan Dismang and Rep. Joe Jett was filed yesterday afternoon. It is the Governor's plan for his third step in reducing income taxes.
The plan announced yesterday is a scaled down version of the 2%-4%-5.9% plan that the Tax Reform and Relief Legislative Task Force had recommended. Essentially it retains Arkansas's unique three-bracket-schedules individual tax system and reforms the tax brackets only for the high-income bracket schedule. Currently, persons with incomes of $37,700 and above pay a 6.9 percent income tax. Under the governor's new proposal, persons with income above $8,000 will be taxed at 5.9 percent. The 5.9% plan comes with a $97 million reduction in state generated revenue.
Senate President Pro Tem Jim Hendren said the Senate will consider the bill next week.
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NEW HOUSE INTRODUCTIONS
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Redefines "water damaged" in the Uniform Motor Vehicle Administration, Certificate of Title and Antitheft Act.
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Defines tow businesses under provisions for the removal or immobilization of unattended vehicles.
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NEW SENATE INTRODUCTIONS
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Adds additional means for levying and collecting fire department dues by allowing a levy by attested petition filed with the municipality and signed by a majority of registered voters in the district in lieu of a special election on the issue.
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Makes distracted driving a primary offense for persons under the age of 18 years, authorizing law enforcement officers to stop or detain the driver of a motor vehicle solely to determine compliance with this section.
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Creates the Tax Competitiveness and Relief Act of 2019, adjusting income ranges for tax brackets for all residents, individuals, trusts or estates
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| CONTACT INFORMATION State Senators: 501-682-2902 State Representatives: 501-682-6211 To view schedules, calendars, bill information and legislator information, visit: www.arkleg.state.ar.us. To view live stream video and audio from the Arkansas House of Representatives, visit www.arkansashouse.org. Independent Insurance Agents of Arkansas phone: (501) 221-2444 IIAA web site: www.iiaar.org
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| The Weekly Legislative Update is written by Lynn Zeno; edited and distributed by Kari McAfee. |
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As a reminder, the Legislative Update is sent to all IIA of Arkansas members via electronic communications unless you notify us otherwise at
[email protected] or by telephone at 501-221-2444
The Legislative Update is a publication of the Independent Insurance Agents of Arkansas to members and associate members of this Association. Reproduction, by any means, of material appearing in the Legislative Update is strictly forbidden without permission.
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