Arkansas lawmakers are considering a proposal to create a new tax credit to spur private investment of small businesses.
A bipartisan proposal that would allow the Arkansas Economic Commission to issue tax credits in order to promote private investment in small businesses in low-income communities is before the House Economic Development Committee.
The bill’s main sponsors are Democratic Rep. Darrin Williams of Little Rock and Republican Sen. Jonathan Dismang of Beebe.
Supporters of the bill say the state-incentivized investments in local small businesses will create and retain jobs in the state. They said similar programs have been successful in neighboring states.
The Department of Finance and Administration says it’s unknown what impact the tax credit would have on the state’s revenue.
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