AR HB1914

Adds three new definitions to Arkansas Alternative Fuels Development Act: "bi-fuel compressed natural gas motor vehicle" (powered by CNG and gasoline/diesel), "conversion kit" (supplies/materials for conversion), and "dedicated compressed natural gas motor vehicle" (powered only by CNG)

Expands Arkansas Alternative Fuels Development Program from three to four types of grant incentives by adding rebate incentives for converting diesel and gasoline vehicles to dedicated or bi-fuel CNG vehicles, effective July 1, 2011

Establishes rebate application process administered by Arkansas Agriculture Department requiring proof of Arkansas vehicle registration and evidence of conversion kit purchase or conversion costs

Rebate amount is the lesser of 50% of conversion costs or vehicle weight-based caps: $5,000 (up to 8,500 lbs.), $8,000 (8,500-14,000 lbs.), or $32,000 (over 26,000 lbs.)

Limits rebates to $75,000 per fiscal year per entity and requires annual progress reports to Governor and Legislative Council; act becomes effective July 1, 2011 under emergency clause