AR HB1662

Exempts from sales and use tax parts, tangible property, and services incorporated into commercial jet aircraft components or subcomponents that weigh more than 12,500 pounds.

Defines "commercial jet aircraft" to include commercial, military, private, or other turbine or turbo jet aircraft with a certified maximum take-off weight exceeding 12,500 pounds.

Exempts from sales and use tax the sale of aircraft when sold by a resident of another state to a purchaser who is a resident of another state and will base the aircraft outside Arkansas.

Allows purchasers to take possession of aircraft in Arkansas without losing the exemption if the possession is solely for removing the aircraft from the state or conducting maintenance/modifications at an in-state facility before removing it.

Declares an emergency effective upon the Governor's approval, with the act intended to encourage economic opportunities for Arkansas service providers and workers.