The Arkansas Private Lands Conservation Income Tax Credit Act is designed to encourage conservation practices on private lands, thereby enhancing the state's outdoor economy and improving wildlife habitats. The Act introduces a new subchapter to the Arkansas Code, detailing definitions and procedures for obtaining an income tax credit for eligible conservation efforts. The Arkansas State Game and Fish Commission will oversee the certification process, which includes issuing certifications for conservation practices that meet specific criteria. The tax credit is limited to $10,000 per holder per tax year, with an overall cap of $15 million in credits issued annually.

The Act also outlines the application and approval process for property owners, requiring a certification of approval before starting conservation practices. It allows for the transfer of tax credits and establishes processing fees that will be deposited into the Game Protection Fund. The Arkansas State Game and Fish Commission is responsible for creating rules to implement the Act, prioritizing applications based on their potential benefits. The bill sets a timeline for the tax credit, expiring on December 31, 2033, and specifies that applications will not be accepted after June 30, 2033. Additionally, it amends the Arkansas Code to include fees collected under this Act as part of special revenues and modifies the Game Protection Fund to allocate these fees for the Commission's operations. The provisions of the Act will take effect for tax years beginning on or after January 1, 2024.

Statutes affected:
HB 1680: 19-6-301