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AR HB1980
Bill
Status
3/11/2013
Primary Sponsor
Warwick Sabin
Click for details
AI Summary
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Amends Arkansas Code § 15-11-905 to authorize the Arkansas Arts Council to promulgate rules and charge reasonable application fees for processing arts and cultural district applications.
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Creates new § 15-11-906 establishing that qualifying residing artists in arts and cultural districts are eligible for income tax exemption under § 26-51-313.
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Adds new § 26-51-313 exempting income from sale, publication, or production of artistic works created by qualified residing artists within arts and cultural districts from state income tax.
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Extends the income tax exemption to include Internet, mail-order, and catalog sales of artistic works created within the district and shipped to out-of-district purchasers.
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Effective for tax years beginning on or after January 1, 2013.
Legislative Description
To Amend And Expand The Arkansas Arts And Cultural Districts Act; And To Create Tax Incentives Related To Arts And Cultural Districts.
Last Action
Recommended for study in the Interim by Joint Interim Committee on REVENUE & TAXATION- HOUSE
4/19/2013