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HB 1932

Real estate appraisers; educational requirement for licensure, fair housing & appraisal bias course.

2025 Regular Session Introduced by Elizabeth Bennett-Parker and 12 co-sponsors

Arkansas bill would repeal the Corporate Franchise Tax Act and replace it with an annual, confidential reporting regime for corporations and LLCs.

House sustained Governor's veto
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WeVote Research Nonpartisan
Bill Summary · HB 1932

Summary — HB 1932

Note on scope and source material
- The materials provided combine multiple, different measures that share the bill number “HB 1932” across jurisdictions and sessions (notably Arkansas and Illinois) and contain a separate title line about an appropriation for Lee County fire trucks that is not supported by the bill texts shown. Because of that overlap, this summary presents the two distinct substantive measures found in the supplied text and notes the procedural status information provided (bill ultimately “Died In Committee”).

Overview / Purpose

  1. Arkansas draft (95th General Assembly, 2025): A major revision of corporate filing law that would repeal the Arkansas Corporate Franchise Tax Act of 1979 and replace it with a new annual reporting regime for corporations and LLCs doing business or qualified in Arkansas.
  2. Illinois draft (104th General Assembly, 2025–26): Establishes a “Nursing in Correctional Facilities” scholarship program administered by the Illinois Student Assistance Commission to incentivize nursing graduates to work for the Department of Corrections (DOC) for at least three years.

Key provisions — Arkansas corporate provisions

  • Repeal: Would repeal the Arkansas Corporate Franchise Tax Act of 1979 (text indicates broad statutory change).
  • Annual reports: Adds a new section (proposed § 4-25-111) defining “corporation” (includes LLCs), exempting nonprofits/federally tax‑exempt orgs and certain partnerships.
  • Filing obligations: Secretary of State to mail annual report forms; corporations must file a confidential annual report about condition and status as of the close of their prior fiscal year.
  • Required data: Publicly disclosable items limited to name/address, principal officers, total authorized capital stock (with par value), total issued/outstanding stock (with par value), and state of incorporation; most other report information remains confidential.
  • Interagency reporting: State banking/insurance and other permit-issuing agencies must provide monthly lists of new/changed corporations to the Secretary of State; county clerks must forward duplicates of certain filed organizational instruments.
  • Conforming edits: Amends cross‑references (e.g., §§ 4-27-128, 4-27-1601, 4-27-1622) to tie certificate of existence and corporate records to the new annual franchise tax report requirement.

Potential impact:
- Larger universe of entities would be subject to standardized annual reporting to the Secretary of State.
- Shifts compliance and recordkeeping duties to corporations and to multiple state agencies for reporting to SOS.
- The text appears to replace franchise-tax reporting with a reporting regime; fiscal impacts would depend on implementing rules, fee changes, and whether any franchise tax revenue is affected (not fully shown in supplied excerpts).

Key provisions — Illinois nursing scholarship program

  • Program: Creates a Nursing in Correctional Facilities scholarship (subject to appropriation), administered by Illinois Student Assistance Commission in consultation with DOC.
  • Eligibility: Illinois residents enrolled (part‑ or full‑time) in approved pre‑licensure nursing programs at eligible institutions; cannot concurrently receive Nursing Education Scholarship Law funds for the same year.
  • Scholarship terms:
    • Amount: Determined by tuition/fees + living allowance methodology (ties to Monetary Award Program budget and weighted tuition formulas); total aid cannot exceed cost of attendance.
    • Duration: Up to the equivalent of 8 semesters (16 quarters) of full‑time enrollment.
    • Work commitment: Recipient must sign agreement to begin nursing work for the DOC within one year after program completion and serve at least 3 years.
    • Enforcement/verification: Recipients must provide evidence to the Commission that they are fulfilling the obligation; Commission may reduce awards to avoid exceeding cost of attendance.
  • Administration: Commission handles applications, payments to institutions, and rulemaking; DOC to provide annual report to General Assembly on program effectiveness (e.g., number of recipients, service periods, challenges).
  • Effective date noted in text: July 1, 2026.

Potential impact:
- A recruitment tool to increase nursing staff in correctional facilities; fiscal cost contingent on appropriations.
- Recipients commit to public‑service employment; potential retention improvements in DOC nursing workforce if funded and enforced.

Sponsors and procedural status

  • Sponsors shown across materials: Arkansas sponsors listed include Representatives McCollum, Underwood, Lundstrum, Ray and Senator J. Boyd. Illinois sponsor: Rep. Camille Y. Lilly.
  • Legislative actions (mixed): Filing and referral dates from January–May 2025 across multiple committees (Ways & Means, Revenue & Taxation, Higher Education, Appropriations A, Rules). The overall status supplied: Died In Committee (Died In House Committee at Sine Die adjournment; also shows “Died In Committee” for Appropriations A in another record).

Notes and recommended next steps

  • The packet contains multiple, jurisdictionally distinct bills (Arkansas corporate law changes and an Illinois scholarship program) and an initial title referencing an unrelated appropriation for Lee County fire trucks. For authoritative tracking or fiscal estimates, confirm the exact jurisdiction and final bill text intended for review and consult state fiscal notes or agency analyses for revenue/cost details.
  • If you want a focused analysis (only Arkansas corporate changes, only Illinois scholarship, or the Lee County appropriation item), indicate which and I will produce a deeper, jurisdiction‑specific summary including likely fiscal and administrative impacts.

Compiled from official sources — confirm details with the bill’s official record.

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