This bill proposes a sales and use tax exemption for certain items related to human burial, specifically caskets, burial vaults, and monuments. It introduces a new section to the Arkansas Code, designated as 26-52-457, which states that the first $1,000 of gross receipts from the sale of these items will be exempt from the gross receipts tax and the compensating use tax. Additionally, the bill allows for the exemption to be administered as a rebate.

The effective date of this exemption is set for the first day of the calendar quarter following the enactment of the bill. This legislation aims to alleviate some of the financial burdens associated with burial expenses by reducing the tax liability on essential items for human burial.