HB1523

House Bill 1523 amends Arkansas Code § 26-52-401(40) to provide a sales and use tax exemption for sales of tangible personal property made at concession stands operated by nonprofit youth athletic organizations. To qualify for this exemption, the concession stand must be operated by members of the organization or volunteers acting on its behalf. Additionally, all proceeds generated from the sales at these concession stands must go directly to the nonprofit youth athletic organization. The bill specifies that this change will take effect on the first day of the calendar quarter following the bill's effective date.