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AR SB933
Bill
Status
Failed
5/17/2013
Primary Sponsor
David Wyatt
Click for details
AI Summary
- Amends Arkansas Code § 15-13-301(b) to reformats the Arkansas Alternative Fuels Development Program's four types of incentives as a numbered list while maintaining the same categories
- Creates a new income tax credit of 10 cents per gallon for the production of alternative fuels under Arkansas Code § 15-13-307
- Prohibits taxpayers claiming the production tax credit from receiving a production grant incentive under § 15-13-302 in the same year, but allows them to receive feedstock processor incentives under § 15-13-303 in any year
- Authorizes the Director of the Department of Finance and Administration, in consultation with the Arkansas Agriculture Department, to promulgate rules implementing the tax credit
- Makes the tax credit effective for alternative fuels produced on or after January 1, 2014, and applies to tax years beginning on or after January 1, 2014
Legislative Description
To Amend The Arkansas Alternative Fuels Development Act; And To Provide A Tax Credit For The Production Of Alternative Fuels.
Last Action
Sine Die adjournment
5/17/2013
Committee Referrals
Agriculture, Forestry and Economic Development3/11/2013
Full Bill Text
No bill text available