HB1972
To Create A Sales And Use Tax Exemption For The Helena West Helena Future Leaders Youth Sports Association.
Last Action (May 5, 2025): Died in House Committee at Sine Die adjournment.
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AI-Generated Summary
House Bill 1972 proposes an amendment to the Arkansas Code to provide a sales and use tax exemption for the Helena West Helena Future Leaders Youth Sports Association. The bill exempts the organization from paying sales and use taxes on the purchase of tangible personal property, specified digital products, digital codes, or services. The effective date for this exemption is set for the first day of the calendar quarter following the bill's enactment.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiary of this bill is the Helena West Helena Future Leaders Youth Sports Association, which would reduce its operational costs by avoiding sales and use taxes on purchases of goods and services.
Who Might Suffer?
The state government of Arkansas would be negatively impacted by a reduction in tax revenue. Additionally, the broader tax base may be indirectly affected as a portion of the potential sales tax revenue is diverted from the general treasury.
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