HB1523 Summary

• Amends Arkansas Code § 26-52-401(40) to provide a sales and use tax exemption for gross receipts from tangible personal property sales at concession stands operated by nonprofit youth athletic organizations.

• Requires that individuals operating the concession stand must be members or volunteers of the nonprofit youth athletic organization.

• Requires that all proceeds from concession stand sales must go directly to the nonprofit youth athletic organization.

• Effective on the first day of the calendar quarter following the act's effective date.

• Bill was approved on April 4, 2023.