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AR HB1716
Bill
Status
4/8/2025
Primary Sponsor
Frances Cavenaugh
Click for details
AI Summary
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Prohibits the Secretary of the Department of Finance and Administration from reassessing sales or use tax on the same item of tangible personal property when a taxpayer has previously won an exemption decision through the Office of Hearings and Appeals, Tax Appeals Commission, circuit court, or Supreme Court
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Protection applies only when the taxpayer uses the property in the same manner that was previously determined exempt by the deciding body
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Exemption protection does not apply if there is a material change in law, including new legislation by the General Assembly, amended or repealed laws, newly promulgated or changed administrative rules, or subsequent Supreme Court decisions
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Amends Arkansas Code § 26-18-401 governing tax assessment and collection authority
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Approved April 8, 2025 as Act 498 of the Regular Session
Legislative Description
To Amend The Law Concerning The Assessment And Collection Of Taxes By The Secretary Of The Department Of Finance And Administration; And To Prohibit The Assessment Of Sales And Use Tax In Certain Circumstances.
Last Action
Notification that HB1716 is now Act 498
4/8/2025