The Biodiesel Incentive Act, enacted in April 2003, created a tax credit for biodiesel suppliers and a production incentive for qualified biodiesel producers in Arkansas. Biodiesel suppliers are eligible for a 5% tax credit for the cost of facilities and equipment used directly in the wholesale or retail distribution of biodiesel fuels. The credit may be carried forward for a maximum of three years. Suppliers must be certified to qualify for this incentive. The credit may not be claimed for any facility or equipment operating on or before a supplier is certified, or for which a tax credit was previously claimed by a supplier for any other tax year.
| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Arkansas |
| Incentive Type: | Corporate Tax Credit |
| Web Site: | http://www.arkleg.state.ar.us/ftproot/acts/2003/public/act1287.pdf |
| Administrator: | |
| Start Date: | 1/1/03 |
| Eligible Renewable/Other Technologies: |
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| Incentive Amount: | 5% of facilities and equipment costs |
| Maximum Incentive: | None |
| Carryover Provisions: | 3-year carry forward |
| Name: | SB 363 of 2003 |
| Date Enacted: | 4/14/03 |
| Effective Date: | 1/1/03 |
| Name: | Corporate Tax Information |
| Organization: | Department of Finance & Administration |
| Address: |
1507 W. 7th St. Little Rock AR 77201 |
| Phone: | (501) 682-4775 |
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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