Stricken language would be deleted from and underlined language would be added to present law.
1 State of Arkansas
2 94th General Assembly A Bill
3 Regular Session, 2023 SENATE BILL 459
4
5 By: Senator J. Dismang
6 By: Representative C. Fite
7
8 For An Act To Be Entitled
9 AN ACT TO AMEND THE DIGITAL PRODUCT AND MOTION
10 PICTURE INDUSTRY DEVELOPMENT ACT OF 2009; TO INCREASE
11 THE MAXIMUM AMOUNT OF TAX CREDITS THAT MAY BE
12 APPROVED IN A FISCAL YEAR UNDER THE DIGITAL PRODUCT
13 AND MOTION PICTURE INDUSTRY DEVELOPMENT ACT OF 2009;
14 AND FOR OTHER PURPOSES.
15
16
17 Subtitle
18 TO INCREASE THE MAXIMUM AMOUNT OF TAX
19 CREDITS THAT MAY BE APPROVED IN A FISCAL
20 YEAR UNDER THE DIGITAL PRODUCT AND MOTION
21 PICTURE INDUSTRY DEVELOPMENT ACT OF 2009.
22
23
24 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
25
26 SECTION 1. Arkansas Code § 15-4-2012(b)(1), as amended by Acts 2023,
27 No. 204, § 9, and concerning the tax credit allowed under the Digital Product
28 and Motion Picture Industry Development Act of 2009, is amended to read as
29 follows:
30 (b)(1)(A) The Arkansas Economic Development Commission shall not
31 approve tax credits under this subchapter for more than four million dollars
32 ($4,000,000) in any one (1) fiscal year.
33 (B) Beginning fiscal year 2024, the commission shall not
34 approve applications for tax credits under this subchapter for more than
35 twelve million dollars ($12,000,000) in any one (1) fiscal year.
36
*JLL304* 03/23/2023 8:48:21 AM JLL304


Statutes affected:
SB 459: 15-4-2012(b)