AR HB1461

Transfers approval authority for production and postproduction rebates from automatic eligibility to discretionary decisions by the Executive Director of the Arkansas Economic Development Commission.

Maintains rebate amounts at up to 20% for qualified production costs with an additional 10% for below-the-line employee payroll of Arkansas residents, subject to executive director approval.

Requires production companies and the executive director to sign a financial incentive agreement defining benefits, project timeline, eligibility requirements, and consequences for non-compliance.

Changes the sunset date for the rebate program from June 30, 2019 to June 30, 2029, extending the program for an additional decade.

Clarifies that rebate amounts are limited to what is specified in the approved financial incentive agreement rather than being limited only by available fund balance.