This bill introduces sales and use tax exemptions specifically for student farmers and certain products and services related to youth farming programs 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 items such as feed, livestock, seeds, fertilizer, medical supplies, farm equipment, and tools necessary for exhibiting livestock or poultry.

Additionally, the bill provides exemptions for the lease or rental of personal property used by student farmers in their projects and for accommodations provided to them during livestock shows or competitions. To claim these exemptions, individuals must file a statement with the Secretary of the Department of Finance and Administration, which must be signed by both the student farmer and an agricultural educator or advisor. The bill also specifies that it will take effect on the first day of the calendar quarter following its enactment.