Arkansas State Victories
The following NFIB victories will make a real difference for your business.
Recent NFIB/Arkansas victories:
Put regulatory flexibility in place
NFIB/Arkansas worked closely to put the Regulatory Flexibility Act in place. The act requires that, before submitting for adoption, amendment or repeal any proposed rules that affect small businesses, state agencies must complete an economic impact statement. Each impact statement will be sent to the agency director for feedback. After receiving the director's feedback, the agency will determine if any action should be taken.
Defeated minimum wage increase
NFIB/Arkansas put pressure on legislators to defeat this measure. While raising the minimum or 'entry level' wage may give some low-income workers an increase in their earnings, it would deprive others of the opportunity to earn anything at all. Employers respond to the increased costs associated with a higher minimum wage rate by reducing the size of the workforce, not hiring as many additional workers, and/or reducing the number of hours of some employees.
Repealed three percent income tax surcharge
NFIB worked with legislators to repeal this surcharge, which added even more tax burdens to Arkansans.
Passed health savings accounts
The top priority for NFIB and its members is to have access to affordable health-care insurance. Health savings accounts create tax deductions for amounts deposited into tax-free savings accounts for medical expenses. HSAs allow small-business owners to obtain affordable health-care coverage for themselves and their employees.
2002: NFIB represented its members at the U.S. Small Business Administration's Regulatory Fairness Hearing in Little Rock, expressing the importance of government support for small business -- the state's largest job producer and employer -- instead of creating obstacles and roadblocks.
2002: Thirty-five of the 41 candidates supported by the NFIB/Arkansas SAFE Trust won in the fall 2002 elections. In the state senate, 16 of 20 were successful and in the House of Representatives, 17 of 21 were victorious.
2001: Electric De-Regulations: NFIB scored a victory in joining others to pass a law which opens Arkansas' electricity market to competition. The new law extends the freeze on electric rates to three years and restricts electric company expenses for consultants and lawyers. Please remind lawmakers that you want them to support the protections won by NFIB in the de-regulation law.
1999: Capital Gains Tax Cut: Sen. Jim Hill (D-Nashville) sponsored SB23 (ACT1005) which exempts from taxation 30 percent of any taxpayer's capital gain, effective after January 1, 1999.
Employer Immunity: Effective July 30, ACT 1474 holds employers immune from liability when they disclose job information about current or former employees to prospective employers.
Financing: Loans from $5,000 to $80,000 for small-business owners are guaranteed by the Department of Economic Development. Should debtors default, the state pays off the loan.
Electric Deregulation: Amendments protecting small business were attached to SB 791 (Sen. Tom Kennedy, D-Russellville) which opens the state's electric industry to competition.
Highways: Subject to voter approval, the state will issue $575 million in government-guaranteed bonds to finance repair of the interstate system. The debt will be retired through federal advances of highway taxes, and fuel tax increases.
1997: Workers' Compensation: NFIB helped win passage for three key bills which strengthen fraud elimination, implement an impairment rating guide and uphold a business pledge for certain benefits awards.
Capital Gains Taxes: Business owners may qualify for tax cuts that could be applied toward income taxes when selling a business.
Health Care: NFIB/Arkansas won exemption from certain mandated benefits for small companies.
Income Taxes: New law offers relief on individual, married, home sale, and child care issues.
1995: Workers' Compensation Groups Authorized: Act 825 permits small businesses to set up workers' compensation self-insurance groups. This should lead to lower insurance costs.
Workers' Compensation Victories: With NFIB's help, several legislative measures, which would have weakened the state's workers' compensation system, were defeated in committee. Further premium reductions are expected by next year.
