House committee approves bill to raise homestead tax credit from $500 to $600

The House Revenue & Taxation Committee on an apparent voice vote approved House Bill 15‑34, a measure to raise Arkansas' homestead tax credit from $500 to $600 for qualifying households.

Representative Schultz, who introduced the bill, said the change "is to put money back into the hands of hardworking Arkansans" and described the increase as the largest single rise in the state's homestead tax credit history. He said the change would be funded from the property tax relief fund created after voters approved Amendment 79 and cited recent growth in that fund as the reason the increase has no general revenue impact.

The bill would raise the per‑household homestead tax credit by $100. Schultz told the committee the fiscal office projects the increase will cost about $56,000,000 in 2026 and about $56,800,000 in 2027 and that roughly 708,000 Arkansans would be affected.

Committee discussion was brief. Representative Wing moved that the bill do pass; the committee chair called the voice vote and announced the bill passed. Following the vote, the chair noted the earlier clarification that the bill would have no general revenue impact.

The bill traces its authority to Amendment 79, which voters approved to create the homestead tax credit and the property tax relief fund. The committee record notes prior increases, including a move from $425 to $500 adopted during the June 2024 special session.

Representative Schultz closed by asking for "a good vote," and the committee advanced the bill to the next stage.

Votes at a glance: Committee recorded a voice vote in favor; no roll‑call tally was provided in the transcript.