Arkansas HB 1687: TO PROVIDE THAT A WATER AUTHORITY IS EXEMPT FROM ALL EXCISE TAXES.

Bill Text

Stricken language would be deleted from and underlined language would be added to present law.
*JLL254* 03/04/2025 3:31:31 PM JLL254
State of Arkansas 1
95th General Assembly A Bill 2
Regular Session, 2025 HOUSE BILL 1687 3
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By: Representative K. Moore 5
By: Senator Hester 6
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For An Act To Be Entitled 8
AN ACT TO AMEND THE LAW CONCERNING THE TAX EXEMPTIONS 9
APPLICABLE TO A WATER AUTHORITY; TO PROVIDE THAT A 10
WATER AUTHORITY IS EXEMPT FROM ALL EXCISE TAXES; AND 11
FOR OTHER PURPOSES. 12
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Subtitle 15
TO PROVIDE THAT A WATER AUTHORITY IS 16
EXEMPT FROM ALL EXCISE TAXES. 17
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BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 19
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SECTION 1. Arkansas Code § 4-35-108 is amended to read as follows: 21
4-35-108. Tax exemption of projects. 22
(a) Each project by All property of a water authority and all income 23
from each project is determined and declared by the General Assembly to be 24
public property used exclusively for a public purpose and shall be exempt 25
from ad valorem taxation by all taxing authorities. 26
(b) A water authority formed under this chapter is exempt from all 27
excise taxes of any kind or nature. 28
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SECTION 2. EFFECTIVE DATE. Section 1 of this act is effective on the 30
first day of the calendar quarter following the effective date of this act. 31
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