The bill proposes an amendment to the Arkansas Code concerning the excise tax on certain beer and sake, specifically introducing a tax credit for those products made with Arkansas rice. A new section, 3-7-117, is added to define "qualified beer and sake" as those containing at least 20% Arkansas rice by weight in the total grain bill. Producers of qualified beer and sake will be entitled to a credit against the excise tax, calculated based on the percentage of Arkansas rice used. This credit will be deducted from the excise tax due for the reporting period.

Additionally, the bill amends Arkansas Code 3-7-401(b) to require that reports on excise tax collected on beer be filed with the Alcoholic Beverage Control Division by the fifteenth day of the month following the acquisition of the beer. It also mandates the provision of a method for reporting and claiming the new tax credit established under section 3-7-117.

Statutes affected:
Old version HB1491 V2 - 3-10-2025 10:51 AM: 3-7-401(b)
Old version HB1491 Original - 2-14-2025 10:10 AM: 3-7-401(b)
HB 1491: 3-7-401(b)
Act 874: 3-7-401(b)