AR HB1911

Adds new subsection (m) to Arkansas Code § 26-51-506 creating a separate income tax credit pathway for taxpayers engaged in reducing, reusing, or recycling wood or wood fiber diverted from solid waste for commercial purposes.

Requires qualifying wood/fiber recycling businesses to make a capital investment exceeding $75,000,000 and demonstrate equipment capable of preventing at least 25,000 tons of wood/fiber from becoming solid waste annually.

Permits taxpayers with capital investments exceeding $200,000,000 to sell or transfer tax credits if a public retirement system of Arkansas owns at least 20% equity in their facilities, with annual credit claims limited to state general revenue generated by those facilities.

Caps total tax credits claimable under the new wood/fiber subsection at $8,000,000 per tax year and allows unused credits to be carried forward for 14 consecutive tax years (compared to 3 years under the general provision).

Exempts wood/fiber recycling businesses qualifying under subsection (m) from standard certification requirements and allows them 18 months after facility construction completion to request certification; credits cannot be claimed for construction completed before July 1, 2017.