AR HB1516

Exempts utilities (electricity, liquefied petroleum gas, and natural gas) used by peanut facilities from Arkansas sales and use taxes under the Gross Receipts Act of 1941 and Compensating Tax Act of 1949

Defines "peanut facility" as a facility that dries and cleans harvested peanuts, facilitates USDA grading, or stores dried peanuts before delivery to a shelling facility

Requires utilities eligible for exemption to be separately metered from utilities used for other purposes, though the Department of Finance and Administration may establish alternate metering requirements

Allows the Director of the Department of Finance and Administration to require sellers to obtain a certificate from taxpayers confirming eligibility for the exemption

Becomes effective on the first day of the calendar quarter following the bill's effective date