Stricken language would be deleted from and underlined language would be added to present law.
*JLL173* 02/06/2025 8:04:17 AM JLL173
State of Arkansas 1
95th General Assembly A Bill 2
Regular Session, 2025 SENATE BILL 204 3
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By: Senator C. Penzo 5
By: Representatives J. Moore, Ray, Rose 6
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For An Act To Be Entitled 8
AN ACT TO AMEND THE STATE INCOME TAX LAWS; TO EXEMPT 9
FROM GROSS INCOME A GAIN BY A TAXPAYER RESULTING FROM 10
THE ACQUISITION OF PROPERTY UNDER THE RIGHT OF 11
EMINENT DOMAIN OR THE THREAT OF CONDEMNATION; AND FOR 12
OTHER PURPOSES. 13
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Subtitle 16
TO EXEMPT FROM GROSS INCOME A GAIN BY A 17
TAXPAYER RESULTING FROM THE ACQUISITION 18
OF PROPERTY UNDER THE RIGHT OF EMINENT 19
DOMAIN OR THE THREAT OF CONDEMNATION. 20
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BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 22
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SECTION 1. Arkansas Code § 26 -51-404(b), concerning exclusions from 24
gross income under the Income Tax Act of 1929, is amended to add an 25
additional subdivision to read as follows: 26
(36) A gain by a taxpayer resulting from the acquisition of real 27
property by an entity with the power of eminent domain under the right of 28
eminent domain or threat of condemnation under Title 18, Chapter 15 or § 27 -29
67-301 et seq. 30
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SECTION 2. EFFECTIVE DATE. Section 1 of this act is effective for tax 32
years beginning on or after January 1, 2025. 33
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