HB1491

House Bill 1491 establishes an excise tax credit for brewers and sake producers who use Arkansas rice in their production processes. To qualify, the beverage must contain at least 20% Arkansas rice by weight relative to the total grain bill. The credit amount is calculated by multiplying the percentage weight of the Arkansas rice used by the total excise tax due for the reporting period. The bill also directs the Alcoholic Beverage Control Division to implement reporting rules for taxpayers to claim this credit. The primary purpose is to incentivize the use of locally grown rice in the production of alcoholic beverages within the state.