HB1657
To Amend The Arkansas Wood Energy Products And Forest Maintenance Income Tax Credit.
Last Action (April 16, 2025): Notification that HB1657 is now Act 709
Sponsors
AI-Generated Summary
House Bill 1657 amends the Arkansas Wood Energy Products and Forest Maintenance Income Tax Credit program. The bill increases the required projected capital investment for qualified projects from $50 million to $1 billion and raises the required number of new full-time permanent employees from 100 to 400. It extends the deadline for project certification from December 31, 2023, to June 30, 2028. Additionally, the bill reduces the income tax credit for wood energy products equipment from 30% to 20% of the purchase cost. Finally, it updates notice requirements for taxpayers and public retirement systems regarding the sale or transfer of these tax credits, with the provisions becoming effective for tax years starting on or after January 1, 2026.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries are large-scale timber and energy corporations capable of meeting the new $1 billion investment threshold and the 400-employee requirement. The state economy may also benefit from increased large-scale capital investment, forest management efforts, and job creation in the wood energy sector.
Who Might Suffer?
Smaller or mid-sized wood energy firms that cannot meet the significantly increased investment and job creation requirements will be effectively disqualified from the tax credit. Additionally, the state government faces a reduction in tax revenue due to the provision of the remaining 20% tax credits to eligible corporations, and the overall value of the tax credit is lowered for participants compared to previous law.
Vote Records
Third Reading
April 9, 2025View individual votes (35)
| Legislator | Party | Chamber | Vote |
|---|---|---|---|
| Jane English | Republican | Senate | Yea |
| Jonathan Dismang | Republican | Senate | Yea |
| Greg Leding | Democrat | Senate | Yea |
| Missy Irvin | Republican | Senate | Yea |
| Bryan King | Republican | Senate | Yea |
| Kim Hammer | Republican | Senate | Yea |
| Stephanie Flowers | Democrat | Senate | NV |
| Frederick Love | Democrat | Senate | Yea |
| Terry Rice | Republican | Senate | Yea |
| Reginald Murdock | Democrat | Senate | Yea |
| Gary Stubblefield | Republican | Senate | Yea |
| Jim Dotson | Republican | Senate | NV |
| John Payton | Republican | Senate | Yea |
| Alan Clark | Republican | Senate | Yea |
| Ronald Caldwell | Republican | Senate | Yea |
| Bart Hester | Republican | Senate | Yea |
| Jimmy Hickey | Republican | Senate | Yea |
| Dan Sullivan | Republican | Senate | Yea |
| David Wallace | Republican | Senate | Yea |
| Blake Johnson | Republican | Senate | Yea |
| Justin Boyd | Republican | Senate | Yea |
| Clarke Tucker | Democrat | Senate | Yea |
| Scott Flippo | Republican | Senate | Yea |
| Clint Penzo | Republican | Senate | NV |
| Mark Johnson | Republican | Senate | Yea |
| Ricky Hill | Republican | Senate | Yea |
| Jamie Scott | Democrat | Senate | Yea |
| Breanne Davis | Republican | Senate | Yea |
| Ben Gilmore | Republican | Senate | Yea |
| Joshua Bryant | Republican | Senate | NV |
| Matt McKee | Republican | Senate | Yea |
| Jim Petty | Republican | Senate | Yea |
| Steve Crowell | Republican | Senate | Yea |
| Tyler Dees | Republican | Senate | NV |
| Matt Stone | Republican | Senate | Yea |
Third Reading
April 3, 2025View individual votes (100)
| Legislator | Party | Chamber | Vote |
|---|---|---|---|
| Tracy Steele | Democrat | House | Yea |
| Fred Allen | Democrat | House | NV |
| Lane Jean | Republican | House | Yea |
| Stephen Meeks | Republican | House | Yea |
| Mark Perry | Democrat | House | Yea |
| Jon Eubanks | Republican | House | Yea |
| Matthew Shepherd | Republican | House | Yea |
| Jeff Wardlaw | Republican | House | Yea |
| Bruce Cozart | Republican | House | Yea |
| David Whitaker | Democrat | House | NV |
| Mike Holcomb | Republican | House | Yea |
| Stephen Magie | Democrat | House | Yea |
| Mark McElroy | Republican | House | Yea |
| Richard Womack | Republican | House | Yea |
| Jack Ladyman | Republican | House | Yea |
| Robin Lundstrum | Republican | House | NV |
| Dwight Tosh | Republican | House | Yea |
| Rick Beck | Republican | House | Yea |
| Mary Bentley | Republican | House | Yea |
| Les Eaves | Republican | House | Yea |
| Justin Gonzales | Republican | House | Yea |
| Julie Mayberry | Republican | House | Yea |
| Ken Ferguson | Democrat | House | Yea |
| Ron Mcnair | Republican | House | Yea |
| Marcus Richmond | Republican | House | Yea |
| Deann Vaught | Republican | House | Yea |
| Karilyn Brown | Republican | House | Yea |
| Sonia Eubanks Barker | Republican | House | Yea |
| Frances Cavenaugh | Republican | House | Yea |
| Jimmie Gazaway | Republican | House | NV |
| Roger Lynch | Republican | House | Yea |
| John Maddox | Republican | House | Yea |
| Aaron Pilkington | Republican | House | NV |
| Johnny Rye | Republican | House | Yea |
| Les Warren | Republican | House | Yea |
| Carlton Wing | Republican | House | Yea |
| Austin Mccollum | Republican | House | NV |
| Carol Dalby | Republican | House | Yea |
| Steve Hollowell | Republican | House | Yea |
| Brian Evans | Republican | House | Yea |
| Lee Johnson | Republican | House | Yea |
| Andrew Collins | Democrat | House | Yea |
| Stan Berry | Republican | House | Yea |
| Harlan Breaux | Republican | House | Yea |
| Cameron Cooper | Republican | House | Yea |
| Nicole Clowney | Democrat | House | Yea |
| Cindy Crawford | Republican | House | Yea |
| Denise Garner | Democrat | House | Yea |
| Tippi McCullough | Democrat | House | Yea |
| Jay Richardson | Democrat | House | Yea |
| Jim Wooten | Republican | House | Yea |
| Denise Ennett | Democrat | House | Yea |
| Richard McGrew | Republican | House | Yea |
| Joy Springer | Democrat | House | Yea |
| Howard Beaty | Republican | House | Yea |
| Tony Furman | Republican | House | Yea |
| Kendon Underwood | Republican | House | NV |
| David Ray | Republican | House | Nay |
| John Carr | Republican | House | Yea |
| Rick McClure | Republican | House | Yea |
| Keith Brooks | Republican | House | Yea |
| Ashley Hudson | Democrat | House | Yea |
| Jon Milligan | Republican | House | NV |
| RJ Hawk | Republican | House | Yea |
| Wade Andrews | Republican | House | Yea |
| Rebecca Burkes | Republican | House | NV |
| Hope Duke | Republican | House | Nay |
| Zack Gramlich | Republican | House | Yea |
| Mindy McAlindon | Republican | House | NV |
| Matt Duffield | Republican | House | Yea |
| Stetson Painter | Republican | House | Yea |
| Steve Unger | Republican | House | Yea |
| Wayne Long | Republican | House | NV |
| Scott Richardson | Republican | House | Yea |
| Brandon Achor | Republican | House | Yea |
| Jeremiah Moore | Republican | House | Yea |
| Joey Carr | Republican | House | Yea |
| Matt Brown | Republican | House | Yea |
| Shad Pearce | Republican | House | Yea |
| Chad Puryear | Republican | House | Yea |
| Ryan Rose | Republican | House | Yea |
| Bart Schulz | Republican | House | Yea |
| Trey Steimel | Republican | House | Yea |
| Tara Shephard | Democrat | House | Yea |
| Jeremy Wooldridge | Republican | House | Yea |
| Kendra Moore | Republican | House | Yea |
| Brit McKenzie | Republican | House | NV |
| Steven Walker | Republican | House | Yea |
| Glenn Barnes | Democrat | House | Yea |
| Lincoln Barnett | Democrat | House | Yea |
| Alyssa Brown | Republican | House | NV |
| Nick Burkes | Republican | House | NV |
| Paul Childress | Republican | House | Yea |
| James Eaton | Republican | House | Yea |
| Brad Hall | Republican | House | Yea |
| Dolly Henley | Republican | House | Yea |
| Jessie McGruder | Democrat | House | Yea |
| Jason Nazarenko | Republican | House | Yea |
| Randy Torres | Republican | House | NV |
| Diana Gonzales Worthen | Democrat | House | Yea |
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