Committee approves amendment to expand recycling-equipment tax credit category, sponsors say credit remains broadly available

The Senate Revenue & Tax Committee advanced a bill to add a narrowly defined category that would qualify for Arkansas' existing recycling equipment tax credit, including for a steel project discussed in committee.

The senator presenting the bill said it adds a new category to qualify for the credits and removes ambiguity about eligibility. Another senator emphasized the credit remains available to recyclers beyond the steel industry, citing an example of a Northwest Arkansas company that processes municipal waste and is eligible for the credit under current rules.

The Department of Finance and Administration representative and senators discussed tax-credit accounting and requested an updated list of credits and values; DFA indicated it would provide additional numbers and information to the committee as soon as possible.

A motion to pass the bill carried on a voice vote after discussion and clarification; no roll-call tally appears in the transcript.