This bill proposes the introduction of sales and use tax exemptions specifically for student farmers in Arkansas. It defines a "student farmer" as an individual under the age of twenty-three enrolled in a youth farming program, which can include chapters of the Arkansas Division of the Future Farmers of America, the Arkansas 4-H program, or similar agricultural programs. The bill outlines various exemptions from gross receipts and compensating use taxes for sales made to student farmers, including items such as feed, livestock, seeds, fertilizer, medical supplies, farm equipment, and tools necessary for livestock exhibitions. Additionally, it provides exemptions for the lease or rental of personal property used in youth farming projects and accommodations for student farmers during exhibitions.

To claim these exemptions, individuals must file a statement with the Secretary of the Department of Finance and Administration, detailing their eligibility and obtaining a signed endorsement from an agricultural educator or program leader. The bill also specifies that it will take effect on the first day of the calendar quarter following its enactment.