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AR HB2278
Bill
Status
Passed
3/23/2017
Primary Sponsor
Logan Jett
Click for details
AI Summary
- Amends Arkansas Code § 26-52-451(a) to expand sales tax exemptions for aircraft sales by a seller located in Arkansas if the aircraft has a certified maximum take-off weight exceeding 9,500 pounds and will be based outside Arkansas
- Maintains existing exemption for sales by out-of-state residents to out-of-state purchasers whose aircraft will be based outside Arkansas
- Allows aircraft to be taken into Arkansas for removal purposes without affecting exemption eligibility
- Declares an emergency due to aviation industry's importance to Arkansas economy and claims current tax provisions inhibit industry growth and employment opportunities
- Effective upon Governor's approval, expiration of veto period, or veto override; approved March 23, 2017
Legislative Description
To Amend The Sales Tax Exemption For Sales Of Certain Aircraft; And To Declare An Emergency.
Last Action
Notification that HB2278 is now Act 595
3/23/2017
Committee Referrals
Revenue & Taxation3/13/2017
Revenue and Taxation3/7/2017
Full Bill Text
No bill text available