Arkansas legislation · 95th General Assembly (2025 Regular)
Arkansas SB568: TO AMEND THE LAW CONCERNING THE TAXES APPLICABLE TO LITHIUM EXTRACTION AND DEVELOPMENT; TO PROVIDE A SALES AND USE TAX EXEMPTION FOR LITHIUM RESOURCE DEVELOPMENT; AND TO AMEND THE LAW CONCERNING THE SEVERANCE TAX ON LITHIUM
Status: Chaptered, April 23, 2025
What the bill says
An act to be entitled an act to amend the law concerning the taxes applicable to lithium extraction and development; to include electronic waste in the definition of "solid waste" for purposes of the sales and use tax exemption for waste reduction, reuse, or recycling equipment; to provide a sales and use tax exemption for lithium resource development; to amend the law concerning the severance tax on lithium; and for other purposes. subtitle to amend the law concerning the taxes applicable to lithium extraction and development…
From the enrolled text:
An Act To Be Entitled AN ACT TO AMEND THE LAW CONCERNING THE TAXES APPLICABLE TO LITHIUM EXTRACTION AND DEVELOPMENT; TO INCLUDE ELECTRONIC WASTE IN THE DEFINITION OF "SOLID WASTE" FOR PURPOSES OF THE SALES AND USE TAX EXEMPTION FOR WASTE REDUCTION, REUSE, OR RECYCLING EQUIPMENT; TO PROVIDE A SALES AND USE TAX EXEMPTION FOR LITHIUM RESOURCE DEVELOPMENT; TO AMEND THE LAW CONCERNING THE SEVERANCE TAX ON LITHIUM; AND FOR OTHER PURPOSES. Subtitle TO AMEND THE LAW CONCERNING THE TAXES APPLICABLE TO LITHIUM EXTRACTION AND DEVELOPMENT; TO PROVIDE A SALES AND USE TAX EXEMPTION FOR LITHIUM RESOURCE DEVELOPMENT; AND TO AMEND THE LAW CONCERNING THE SEVERANCE TAX ON LITHIUM. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. Arkansas Code § 19-6-301(61) and (62), concerning the enumeration of special revenues, are amended to read as follows: (61) Brine taxes imposed upon all brine produced in the state for the purpose of bromine or lithium extraction, as enacted by Acts 1979, No. 759, and all laws amendatory thereto, § 26-58-301; (62) Oil and Gas Commission fees, including oil assessments, gas assessments in excess of four and one-half (41⁄2) mills each fiscal year until *JLL284* 04-09-2025 13:43:52 JLL284 As Engrossed: S4/1/25 S4/8/25 S4/9/25 SB568 July 1, 2023, under § 15-71-107(b)(2)(A)(i), drilling permits, permits for plugging wells, and …