At least 16 states have limited exclusionary discipline for elementary age students, but little is known about the effects of these policies on discipline rates and disproportionality. This paper tests whether a limit on exclusionary discipline in grades K-5 in Arkansas impacted the likelihood of suspension and expulsion overall, for different student subgroups, and in different types of schools. Using a comparative interrupted time series approach, we find the policy - which included exceptions that could be interpreted subjectively - reduced the risk of suspension or expulsion in grades K-5, but that students who are not Black, students without disabilities, and more economically advantaged students experienced larger reductions in suspension and expulsion risk. Implications and limitations are discussed.