Arkansas 2023 Regular Session

Arkansas House Bill HJR1002

Introduced
1/30/23  
Refer
1/30/23  

Caption

An Amendment To The Arkansas Constitution Concerning The Taxation Of Personal Property And Real Property In The State Of Arkansas.

Impact

The impact of HJR1002 on state laws could be significant, as it seeks to repeal the uniform taxation requirement for personal and real property, allowing for differential tax treatment. This would result in a notable shift in how property taxes are levied and could potentially reduce tax burdens on personal property owners. The Amendment 38 and Amendment 30 of the Arkansas Constitution would also be affected as the proposed changes modify provisions concerning tax levies for city and county libraries, enabling those entities to leverage taxation authority differently based on property classifications. A mechanism for enacting such tax changes would require a majority vote from each house of the General Assembly.

Summary

HJR1002 is a proposed amendment to the Arkansas Constitution initiated by Representative S. Meeks, which seeks to transform the taxation framework for personal and real properties within the state. This amendment authorizes the Arkansas General Assembly to reduce or potentially eliminate taxes on personal property. Furthermore, it stipulates that by January 1, 2050, no tax shall be levied on personal property in Arkansas. Additionally, the amendment enables the assembly to create specific exemptions for such taxation. The proposed changes are aimed at reforming existing taxation policies, particularly for personal property, which has been a contentious topic among legislators.

Contention

Notable points of contention surrounding HJR1002 include concerns over the implications of eliminating taxes on personal property. Proponents argue that reducing or eliminating these taxes could stimulate economic growth and alleviate financial burdens on property owners. However, opponents worry that such significant deregulation of property tax policies may lead to decreased revenue for local governments, potentially undermining funding for essential public services such as education and infrastructure. The tension appears to be between fiscal conservatism and the need for sustainable public funding, making this amendment a focal point of ongoing legislative debate.

Companion Bills

No companion bills found.

Previously Filed As

AR HB1028

An Act For The Department Of Education - Arkansas State Library Appropriation For The 2024-2025 Fiscal Year.

AR SB71

An Act For The Department Of Education - Arkansas School For The Blind And Arkansas School For The Deaf Reappropriation.

AR HB1010

An Act For The Arkansas State University - Arkansas Biosciences Institute Appropriation For The 2024-2025 Fiscal Year.

AR SB6

An Act For The Arkansas State University Three Rivers Appropriation For The 2024-2025 Fiscal Year.

AR HB1022

An Act For The University Of Arkansas And The Division Of Agriculture - Arkansas Biosciences Institutes Appropriation For The 2024-2025 Fiscal Year.

AR SB37

An Act For The Department Of Education - Arkansas School For The Blind And Arkansas School For The Deaf Appropriation For The 2024-2025 Fiscal Year.

AR HB1042

An Act For The Arkansas State University - Mid-south Appropriation For The 2024-2025 Fiscal Year.

AR SB21

An Act For The Arkansas State Game And Fish Commission Appropriation For The 2024-2025 Fiscal Year.

AR SB41

An Act For The Arkansas Minority Health Initiative Of The Department Of Health - Arkansas Minority Health Commission Appropriation For The 2024-2025 Fiscal Year.

AR SB15

An Act For The University Of Arkansas At Pine Bluff Appropriation For The 2024-2025 Fiscal Year.

Similar Bills

CA AB2013

Property taxation: new construction: damaged or destroyed property.

CA AB1748

Property taxation: base year value transfer.

CA AB885

Property taxation: new construction: definition.

CA SB1091

Property taxation: transfer of base year value: disaster relief.

CA AB1253

Property taxation: newly constructed property: reconstruction of damaged or destroyed property.

CA SB246

Property tax: base year value transfers.

CA SB890

Property taxation: change of ownership and base year value transfers.

CA AB1500

Property taxation: application of base year value: disaster relief.