AR HB1201

Expands the definition of "waste reduction, reuse, or recycling equipment" for steel manufacturers to include production, processing, and testing equipment used to manufacture products containing recovered materials.

Allows qualified steel manufacturers to carry forward unused income tax credits from waste reduction and recycling equipment purchases for 14 consecutive years instead of the standard period.

Creates alternate qualification pathway for steel manufacturers to obtain certification from the Arkansas Department of Environmental Quality instead of meeting standard § 26-51-506 requirements.

Requires steel manufacturers to refund tax credits within three years if equipment is removed from Arkansas, transferred to third parties, or if the manufacturer ceases compliant operations, with refund amounts of 0%, 33%, or 67% depending on the year.

Applies only to income tax credits certified on or after January 1, 2015, and does not amend or limit Act 1084 of 2013 or Act 1476 of 2013.