Tax Cut Bills Now Law Of The Land

Six bills that were part of a tax cut-budget compromise between Gov. Mike Beebe and House and Senate leaders have all been signed into law.

On Tuesday, Beebe signed the final four bills of the six-bill package.

They include:

SB 274 by Sen. Gilbert Baker (R-Conway) to raise the threshold for the application of the used car tax from $2,500 to a modified $4,000.

SB 275 by Sen. Bill Sample (R-Hot Springs), which provides a tax break for manufacturers on the sales tax paid on their utilities.

SB 276 by Sen. Larry Teague (D-Nashville) to reduce the grocery tax by an additional half-cent, part of Gov. Mike Beebe’s legislative package.

HB 1056 by Rep. Uvalde Lindsey (D-Fayetteville), which makes technical corrections and provides tax relief for low-income heads of household.

HB 1369 by Rep. Matthew Shepherd (R-El Dorado). The bill would create a sales tax holiday for back-to-school sales.

HB 1421 by Rep. Mike Patterson (D-Piggott) to extend and expand geotourism tax incentives in the Delta.

All told, the six tax cut measures will provide approximately $35 million in tax relief to Arkansas businesses and residents.