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Arkansas Promise Act would create tuition tax credit for families earning up to $90,000, sponsor says
Summary
Representative Collins introduced the Arkansas Promise Act (House Bill 1026) to create a tax credit equal to families' out‑of‑pocket tuition costs for in‑state public two‑ and four‑year institutions, with an income cap of $90,000 and a projected cost discussed by the sponsor.
Representative Collins presented House Bill 1026, the Arkansas Promise Act, describing it as a program modeled on Colorado's approach to reduce out‑of‑pocket tuition costs and broaden access to postsecondary education. The bill would create a tax credit equal to the out‑of‑pocket tuition a family pays at a public two‑ or four‑year Arkansas institution for residents with household income up to $90,000.
Collins said the credit could be used for certificates, associate degrees or bachelor's degrees at public Arkansas institutions and that the program is designed to "shatter barriers to college, the cost barrier to college or a technical school." The sponsor told the committee the fiscal estimate attached to the bill was $29 million in the projected year and framed the cost as an investment in workforce development.
Committee members asked technical questions about eligibility and program design, including creditable enrollment (the bill uses a six‑credit minimum per semester to qualify) and a limit of four consecutive academic semesters for claiming the credit. Collins said those rules follow Colorado's model and were intended to balance accessibility and program cost.
No vote was taken on HB 1026 at this hearing; the bill was presented for committee consideration and follow‑up questions.
Ending: Sponsor argued the program would expand postsecondary access and complement other scholarship programs, and asked the committee to consider additional fiscal scoring when the bill returns.
