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AR HB1657

Bill

Official Source

Status

Passed

4/16/2025

Primary Sponsor

Rick Beck

Click for details

Origin

House of Representatives

95th General Assembly (2025 Regular)

AI Summary

  • Reduces the income tax credit for wood energy products equipment from 30% to 20% of equipment costs for qualified projects
  • Increases the minimum investment threshold from $50 million to $1 billion for qualified wood energy products and forest maintenance projects
  • Raises the job creation requirement from 100 to 400 net new full-time permanent employees with average annual wages of at least $60,000
  • Extends the closing date deadline for project certification from December 31, 2023 to June 30, 2028
  • Effective for tax years beginning on or after January 1, 2026

Legislative Description

To Amend The Arkansas Wood Energy Products And Forest Maintenance Income Tax Credit.

Last Action

Notification that HB1657 is now Act 709

4/16/2025

Committee Referrals

Revenue & Taxation4/3/2025
Revenue and Taxation3/4/2025

Full Bill Text

No bill text available