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Bill > HB1303

AR HB1303

AR HB1303
To Create The Sustainable Aviation Fuel Incentive Act; And To Create An Income Tax Credit Related To Sustainable Aviation Fuel.

summary

Introduced
01/29/2025
In Committee
04/07/2025
Crossed Over
03/18/2025
Passed
04/08/2025
Dead
Signed/Enacted/Adopted
04/10/2025

Introduced Session

95th General Assembly (2025 Regular)

Bill Summary

AN ACT TO CREATE TAX INCENTIVES RELATED TO SUSTAINABLE AVIATION FUEL; TO CREATE THE SUSTAINABLE AVIATION FUEL INCENTIVE ACT; TO CREATE AN INCOME TAX CREDIT RELATED TO SUSTAINABLE AVIATION FUEL; AND FOR

AI Summary

This bill creates the Sustainable Aviation Fuel Incentive Act, which establishes a tax credit program to encourage the development of sustainable aviation fuel (SAF) production facilities in Arkansas. The bill provides a 30% income tax credit for qualified manufacturers who invest more than $2 billion in a SAF project, with specific requirements including creating at least 75 new full-time permanent jobs, using wood biomass to produce jet fuel, and meeting stringent equipment and energy efficiency standards. The tax credit applies to various project costs, including construction, equipment, planning, and labor, and is subject to a comprehensive incentive agreement with performance criteria and potential claw-back provisions. To qualify, manufacturers must obtain certifications from the Arkansas Economic Development Commission and Department of Energy and Environment, demonstrating the project's economic viability and meeting specific investment and job creation targets. The tax credits can be carried forward indefinitely, cannot exceed the taxpayer's annual income tax liability, and are available for tax years beginning on or after January 1, 2025. The bill aims to attract significant industrial investment in sustainable aviation fuel production in Arkansas by offering substantial financial incentives.

Committee Categories

Budget and Finance

Sponsors (64)

Lane Jean (R)*,  Matt Stone (R)*,  Brandon Achor (R),  Fred Allen (D),  Wade Andrews (R),  Sonia Barker (R),  Howard Beaty (R),  Rick Beck (R),  Mary Bentley (R),  Stan Berry (R),  Justin Boyd (R),  Harlan Breaux (R),  Karilyn Brown (R),  Matt Brown (R),  Joey Carr (R),  Fran Cavenaugh (R),  Paul Childress (R),  Bruce Cozart (R),  Steve Crowell (R),  Carol Dalby (R),  Breanne Davis (R),  Tyler Dees (R),  Les Eaves (R),  Jon Eubanks (R),  Brian Evans (R),  Ken Ferguson (D),  Scott Flippo (R),  Ben Gilmore (R),  Justin Gonzales (R),  Kim Hammer (R),  Dolly Henley (R),  Bart Hester (R),  Mike Holcomb (R),  Steve Hollowell (R),  Lee Johnson (R),  Roger Lynch (R),  John Maddox (R),  Steve Magie (D),  Mark McElroy (R),  Matt McKee (R),  Ron McNair (R),  Jon Milligan (R),  Jeremiah Moore (R),  Kendra Moore (R),  Stetson Painter (R),  Shad Pearce (R),  Mark Perry (D),  Chad Puryear (R),  Jay Richardson (D),  Marcus Richmond (R),  Johnny Rye (R),  Bart Schulz (R),  Matthew Shepherd (R),  Joy Springer (D),  Trey Steimel (R),  Dwight Tosh (R),  Steve Unger (R),  DeAnn Vaught (R),  Steven Walker (R),  Jeff Wardlaw (R),  Les Warren (R),  David Whitaker (D),  Jeremy Wooldridge (R),  Jim Wooten (R), 

Last Action

Notification that HB1303 is now Act 546 (on 04/10/2025)

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