The legislation to increase the homestead property tax credit, which will increase from $600 to $675 if implemented, has passed both the House and Senate. The Department of Finance and Administration estimates it will increase tax credits by $39.8 million in 2027 and $40.4 million in 2025. The bill is expected to be signed by Gov. Sarah Huckabee Sanders and will undergo a special session to reduce personal and corporate taxes.