The Senate approved the bill by a 33-0 vote on Thursday. The state Department of Finance and Administration has projected the increase, which the House approved by a 99-0 vote earlier this month, would cost the state $34 million next year.

ARKANSAS SNAPCHAT PREDATOR SENTENCED AFTER TRACKING 13-YEAR-OLD GIRL'S LOCATION THROUGH APP

More than 711,000 people received the tax credit in 2022.

The credit is funded by a one-half cent statewide sales and use tax. The tax credit was established through a constitutional amendment approved by voters in 2000. It was last raised in 2019 by former Gov. Asa Hutchinson, Sanders' Republican predecessor.