AR
Arkansas House Bill HB1472

Arkansas 2025 Regular Session

Arkansas House Bill HB1472

Introduced
2/13/25  
Refer
2/13/25  

Caption

To Create A Sales And Use Tax Exemption For Parts Purchased To Repair Agricultural Equipment And Machinery And Timber Equipment And Machinery And Parts And Services Purchased To Repair A Grain Bin.

Impact

If enacted, HB1472 would amend Arkansas Code Title 26, thereby designating specific exemptions under sales and use tax statutes applicable to the agricultural sector. By introducing these exemptions, the legislation is intended to bolster the economic viability of agricultural producers and timber businesses, allowing them to allocate resources more effectively and potentially fostering growth in these sectors. Such exemptions could enhance competitiveness and profitability, driving overall economic benefits within the state’s agricultural framework.

Summary

House Bill 1472 seeks to establish sales and use tax exemptions specifically for parts used in the repair of agricultural and timber equipment, as well as for services related to grain bin repairs. It aims to alleviate the financial burden associated with maintaining essential equipment in these industries by exempting related transactions from state taxes. This initiative is particularly significant in the context of Arkansas' agricultural economy, where such equipment plays a critical role in productivity and operational efficiency.

Contention

While proponents of the bill argue that these tax exemptions are necessary for supporting the agricultural economy and helping farmers cope with rising operational costs, there may be counterarguments regarding the potential impact on state revenue. Critics may raise concerns that these exemptions could contribute to budget deficits or that they might disproportionately benefit larger agricultural operations over small, family-run farms. As the discussions proceed, stakeholders will likely assess the balance between providing relief for agricultural businesses and maintaining fiscal responsibility for the state.

Companion Bills

No companion bills found.

Previously Filed As

AR HB1506

To Create A Sales And Use Tax Exemption For Parts Purchased To Repair Agricultural Equipment And Machinery And Timber Equipment And Machinery.

AR SB441

To Amend The Sales And Use Tax Laws Concerning Exemptions Related To Certain Machinery And Equipment; And To Allow A Sales And Use Tax Exemption For Certain Machinery And Equipment Placed In Inventory.

AR SB256

To Include Machinery And Equipment Used In Research And Development In The Sales And Use Tax Exemption For Certain Machinery And Equipment Used In Manufacturing.

AR HB1654

To Provide Sales And Use Tax Exemptions For Data Centers; And To Provide A Sales And Use Tax Exemption For Data Center Equipment, Data Center Costs, Certain Services Provided To A Data Center, And Electricity Used By A Data Center.

AR SB252

To Amend The Definitions Of “manufacturing” And “processing” For Purposes Of The Use-tax Exemption For Machinery And Equipment Used To Retread Tires To Match Their Definitions For Purposes Of The Sales-tax Exemption.

AR HB1346

To Create A Sales And Use Tax Exemption For The Purchase Of A Business Vehicle By A Food Pantry; And To Create A One-time Rebate Of State Sales And Use Tax For The Purchase Of A Business Vehicle In 2022 By A Food Pantry.

AR SB530

To Create A Sales And Use Tax Exemption For Certain Sales To A Cultivation Facility.

AR SB134

To Increase The Sales And Use Tax Exemption For Used Motor Vehicles; And To Amend The Reduced Sales And Use Tax Rate Applicable To Purchases Of Used Motor Vehicles.

AR SB541

To Create A Sales And Use Tax Exemption For Certain Items And Services Sold To A Cemetery.

AR SB215

To Provide A Sales And Use Tax Exemption For Working Horses And Fencing Used In A Commercial Agricultural Production.

Similar Bills

NM SB115

Public Project Revolving Fund Projects

NM HB28

Public Project Revolving Fund Projects

AR SB256

To Include Machinery And Equipment Used In Research And Development In The Sales And Use Tax Exemption For Certain Machinery And Equipment Used In Manufacturing.

NM SB332

Nmfa Public Project Revolving Fund Projects

AR SB441

To Amend The Sales And Use Tax Laws Concerning Exemptions Related To Certain Machinery And Equipment; And To Allow A Sales And Use Tax Exemption For Certain Machinery And Equipment Placed In Inventory.

LA HB134

Provides relative to the regulation of fuel used in agricultural machinery and fishery equipment

CO SB049

Special Mobile Machinery Registration Exemption

MA H4004

Relative to establishing an income tax credit for purchase of zero-emission and hybrid mobile machinery