This bill proposes the creation of a sales and use tax exemption specifically for the Arkansas Museum of Fine Arts and the Arkansas Museum of Fine Arts Foundation. It amends Arkansas Code 26-52-401 to include a new subdivision that exempts gross receipts or gross proceeds from the sale of tangible personal property, specified digital products, digital codes, or services provided to these institutions.

Additionally, the bill establishes that the effective date for this exemption will be the first day of the calendar quarter following the act's approval. This legislative change aims to support the financial sustainability of the Arkansas Museum of Fine Arts and its foundation by alleviating tax burdens associated with their operations.

Statutes affected:
SB 535: 26-52-401
Act 781: 26-52-401