The proposed bill aims to amend Arkansas law regarding the excise tax on certain beer and sake by introducing a tax credit for those products made with Arkansas rice. Specifically, it defines "qualified beer and sake" as those containing at least 20% Arkansas rice by weight in the total grain bill and subject to existing excise taxes. Producers of qualified beer and sake will be entitled to a credit against their 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 modifies the reporting requirements for excise tax collected on beer, mandating that reports be filed with the Alcoholic Beverage Control Division by the fifteenth day of the month following the acquisition of the beer. It also includes provisions for reporting and claiming the new tax credit established under the bill. Overall, the legislation seeks to support local rice production by incentivizing its use in the brewing of beer and sake.

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