AR SB530

Creates sales and use tax exemption for sales to marijuana cultivation facilities, including exemption from gross receipts tax and compensating use tax under the Arkansas Compensating Tax Act of 1949

Exempts the following items when sold to cultivation facilities: seeds for marijuana cultivation, new and used equipment and machinery (excluding repair/replacement parts), utilities used exclusively in facility operations, consumable materials and chemicals used in cultivation or manufacturing, finished goods packaging, and devices that house usable marijuana in packaging

Requires utilities claimed for exemption to be separately metered from utilities used for other purposes, and allows the Secretary of the Department of Finance and Administration to require certification from taxpayers and establish additional metering requirements

Grants the Secretary of the Department of Finance and Administration authority to promulgate rules for proper administration of the exemption

Effective date is the first day of the calendar quarter following the effective date of the act