TO CREATE A SALES AND USE TAX EXEMPTION FOR PARTS FOR AND REPAIR OF AGRICULTURAL EQUIPMENT AND MACHINERY.

House Bill 1464 aimed to create a sales and use tax exemption for farmers and agricultural businesses in Arkansas. It sought to exempt the gross receipts or proceeds from the sale of parts used to modify, replace, or repair existing agricultural equipment and machinery. Additionally, the bill proposed to exempt services related to the installation, alteration, or repair of this equipment. "Agricultural equipment and machinery" was defined to include items like irrigation pipe and aviation machinery used directly in farming, but excluded timber production equipment, motor vehicles, or hand tools.