The bill aims to make technical corrections to Title 26 of the Arkansas Code concerning taxation. It repeals certain obsolete provisions, including Acts 2007, No. 613, and Arkansas Code 26-51-428, which are no longer applicable due to prior certifications and amendments. Additionally, the bill amends definitions related to tax credits and the Arkansas Tobacco Products Tax Act to correct grammatical errors and clarify ownership interests. Notably, it removes outdated references and ensures that the changes do not conflict with acts passed during the regular session of the Ninety-Fourth General Assembly.

Key insertions in the bill include clarifications regarding the definition of "qualified growth projects" and the intent of the General Assembly to ensure that the enactment of this act does not repeal any prior legislation. The bill emphasizes that the changes are technical in nature and do not alter the substantive law. Overall, the legislation seeks to streamline and clarify existing tax laws in Arkansas without introducing new policies or significant changes.

Statutes affected:
HB 1294: 26-51-428, 26-51-506(b), 26-57-203(27), 26-57-610(b)
Act 181: 26-51-428, 26-51-506(b), 26-57-203(27), 26-57-610(b)