LITTLE ROCK - Fiscal issues took center stage during the final week of the legislative session.
Lawmakers have been working on a long list of tax cuts that were finalized in the closing days of the 2021 session.
Legislation to expand the sales tax exemption for purchases of used motor vehicles was first introduced in January, but it took until the closing days of the session for everyone to agree on the details.
House Bill 1912 lowers the sales tax to 3.5% on purchases of used motor vehicles costing between $4,000 and $10,000. The first year it is completely in effect, it will save Arkansas consumers an estimated $13.1 million.
The lower tax rate will apply to used trailers and semi-trailers too.