AR SB468

Amends Arkansas Code § 15-4-3603(a) to prohibit new tax credit applications or certifications under the New Markets Jobs Act after the effective date of this act.

Amends Arkansas Code § 15-4-3605(a)(1)(A) and (d) to prevent the commission from accepting applications or certifying qualified equity investments or long-term debt securities for tax credit entitlement after the effective date of this act.

Declares an emergency clause based on findings that the new market tax credit has significantly reduced state premium tax revenues needed to fund essential state government activities and services.

Makes the act effective immediately upon Governor approval, expiration of the Governor's veto period, or override of a gubernatorial veto.