Latest news with #ArkansasSportsRaffleAct
Yahoo
07-03-2025
- Politics
- Yahoo
Four takeaways from the eighth week of the 95th General Assembly
Video: Arkansas bill aims to provide income tax credit for family caregivers LITTLE ROCK, Ark. – The work of Arkansas continues for the 95th General Assembly. On week eight, legislators wrestled with the future of electrical utilities—and cost to consumers—in Arkansas. They also acted on bills regarding sports raffles, family caregivers and ivermectin. UTILITIES Senate Bill 307, otherwise the Generating Arkansas Jobs Act of 2025 will make sweeping changes to how electric utilities and consumers interact if it becomes law. After making it out of committee, it failed its final vote on the Senate floor on Wednesday but remained in debate after lead sponsor Sen. Jonathan Dismang filed a procedure request expunging the vote. Live Blog: Arkansas legislature update for Friday On Thursday, a senator who voted against the bill, Sen. Jimmy Hickey (R-Texarkana) was able to attach an amendment to the bill asking for the rate-setting Public Service Commission—which normally does not engage with legislation—to review the bill and have the results of its review ready by 9 a.m. Monday. After the amendment had passed, Hickey suggested that the bill was so big and important that a Committee of the Whole should hold its future hearing, allowing House members and outside witnesses to participate in the debate. SPORTS RAFFLES The Arkansas Sports Raffle Act passed its House committee hearing on Wednesday and is now before the Senate. An earlier version of the bill had failed, but this version, which removes any mention of casinos and adds age verification, was accepted by committee members. The bill's primary sponsor, Rep. RJ Hawk, said the bill would allow higher education institutions to conduct raffles to fund NIL for student-athletes. Multiple Arkansas bills target motor racing regulation On Thursday, it was approved by the entire House and sent to the Senate, where it received its initial vote and was assigned to a committee. FAMILY CAREGIVERS This week, a bill was filed to provide a tax credit for family members acting as caregivers for elderly relatives. The bill is capped at $1.5 million in credits and is credited on a first-come, first-served basis. IVERMECTIN A bill introduced in the Senate in early February will allow ivermectin to be sold over-the-counter in Arkansas if it becomes law. It cleared its final Senate vote on Thursday and has been sent to the House, now before the Public Health, Welfare and Labor Committee. Trump signs executive order creating bitcoin reserve This bill would allow the 'for human consumption' version of ivermectin to be sold without a prescription or consultation with a doctor. Initially marketed as a veterinary treatment for deworming horses, it became a popular folk remedy during the COVID-19 pandemic. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
07-03-2025
- Business
- Yahoo
Arkansas bill aims to provide income tax credit for family caregivers
LITTLE ROCK, Ark. – A bill in the Arkansas legislature aims to provide an income tax credit to unpaid caregivers of elderly relatives. Rep. Ashley Hudson, House Bill 1076's sponsor, explained that the bill hopes to provide tax credits to people 'providing care to elderly relatives, relatives with dementia, and veterans.' Arkansas Sports Raffle Act passes House committee The bill has a $1.5 million cap in credits each year. The credit is voluntary and first come first served. The maximum tax credit that can be claimed per year is 2,000 dollars or 3,000 dollars if the caregiver is caring for a veteran or their loved one has a diagnosis of dementia. David Cook, with the Alzheimer's Association, spoke in favor of the bill. 'Family caregivers play an important role here in the natural state, just providing care for their own personal loved ones, many of them absorb multiple costs,' Cook said. Certain requirements must be met for the caregiver and the person receiving care to be eligible. An eligible family member as described in the bill means an individual who is at least 62 years of age, requires assistance with at least two activities of daily living, and lives in a private home. The caregiver's income cannot be over $50,000. 'The statute is very specific in supporting those low and middle-income caregivers who are doing all they can to sustain,' Cook said. 'It's not refundable but it does give them a break if they have tax liability on their taxes.' While no one spoke against the bill, there were questions about if the Department of Finance and Administration could safeguard against possible fraud. Hudson said the bill's parameters are not an attractive opportunity for someone to dishonestly claim the credit. Live Blog: Arkansas legislature update for Thursday A representative from the Department of Finance and Administration pointed to different parts of the bill that help protect like the cap and having qualified purchases to apply. Cook says this bill would accomplish one of their goals. 'To make sure we empower and support these family caregivers who are playing such a pivotal role in the state Arkansas in delivering care,' Cook said. Hudson told the committee she hopes this bill could be expanded on in the future. The Arkansas AARP says there are 420,000 family caregivers in Arkansas. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
