(1) As used in this subchapter:(1) “Incentive agreement” means an agreement entered into by a business and the Arkansas Economic Development Commission to provide the business an incentive to locate a new qualified sustainable aviation fuel project in the state;(2) (A) “New full-time permanent employee” means a position or job that:(i) Is created pursuant to an executed incentive agreement;(ii) Is filled by one (1) or more employees or contractual employees who:(a) Were Arkansas taxpayers during the year in which the tax credits or incentives were earned;(b) (1) Work at or fill a position dedicated to the qualified sustainable aviation fuel project identified in the incentive agreement.(2) A new employee of the business that enters into the incentive agreement under this subchapter who does not work at the qualified sustainable aviation fuel project may be counted if the new employee:(A) Otherwise meets the definition of a new full-time permanent employee;(B) Is subject to the Arkansas Income Tax Withholding Act of 1965, § 26-51-901 et seq.;(C) Is paid an average annual salary of at least one hundred thousand dollars ($100,000); and(D) Is verified by reports and methods established as required by the incentive agreement; and(c) (1) Are not employees hired by a qualified manufacturer of sustainable aviation fuel before the date the incentive agreement was executed unless:(A) The position or job filled by the existing employee was created in accordance with the incentive agreement; and(B) The position vacated by the existing employee was either filled by a subsequent employee or no subsequent employee will be hired because the qualified manufacturer of sustainable aviation fuel no longer conducts the particular business activity requiring that classification.(2) If the Director of the Arkansas Economic Development Commission and the Secretary of the Department of Finance and Administration find that a significant impairment of Arkansas job opportunities for existing employees will otherwise occur, they may jointly authorize the counting of existing employees as new full-time permanent employees; and(iii) Has been filled for at least twenty-six (26) consecutive weeks with an average of at least thirty (30) hours worked per week.(B) “New full-time permanent employee” includes a contractual employee who works at the qualified sustainable aviation fuel project identified in the incentive agreement only if the contractual employee is offered a benefits package comparable to a direct employee of the qualified manufacturer of sustainable aviation fuel seeking incentives under this subchapter;(3) “Qualified manufacturer of sustainable aviation fuel” means a taxpayer who:(A) Is a natural person, a company, or a corporation that is engaged in the manufacture, refinement, or processing of sustainable aviation fuel in this state;(B) Uses more than eighty percent (80%) of the electricity and natural gas consumed in the manufacture, refinement, or processing of sustainable aviation fuel to provide power for reactors, distillation columns, heaters, pumps, compressors, coolers, and other sustainable aviation fuel production and processing equipment; and(C) Has an incentive agreement;(4) “Qualified sustainable aviation fuel project” means a facility located in the state that:(A) Manufactures sustainable aviation fuel;(B) Has an installed facility cost of more than two billion dollars ($2,000,000,000), as verified by the commission;(C) Will employ seventy-five (75) or more new full-time permanent employees; and(D) Begins construction on or before December 31, 2027;(5) “Sustainable aviation fuel” means kerosene-type jet fuel derived from wood biomass; and(6) (A) “Sustainable aviation fuel production and processing equipment” means machinery and equipment that are essential for the receiving, storing, processing, and testing of raw materials used in producing or processing sustainable aviation fuel or the production, storage, testing, and shipping of a finished product of a qualified sustainable aviation fuel project, or both.(B) “Sustainable aviation fuel production and processing equipment” does not include a motor vehicle.
(1) “Incentive agreement” means an agreement entered into by a business and the Arkansas Economic Development Commission to provide the business an incentive to locate a new qualified sustainable aviation fuel project in the state;
(2) (A) “New full-time permanent employee” means a position or job that:(i) Is created pursuant to an executed incentive agreement;(ii) Is filled by one (1) or more employees or contractual employees who:(a) Were Arkansas taxpayers during the year in which the tax credits or incentives were earned;(b) (1) Work at or fill a position dedicated to the qualified sustainable aviation fuel project identified in the incentive agreement.(2) A new employee of the business that enters into the incentive agreement under this subchapter who does not work at the qualified sustainable aviation fuel project may be counted if the new employee:(A) Otherwise meets the definition of a new full-time permanent employee;(B) Is subject to the Arkansas Income Tax Withholding Act of 1965, § 26-51-901 et seq.;(C) Is paid an average annual salary of at least one hundred thousand dollars ($100,000); and(D) Is verified by reports and methods established as required by the incentive agreement; and(c) (1) Are not employees hired by a qualified manufacturer of sustainable aviation fuel before the date the incentive agreement was executed unless:(A) The position or job filled by the existing employee was created in accordance with the incentive agreement; and(B) The position vacated by the existing employee was either filled by a subsequent employee or no subsequent employee will be hired because the qualified manufacturer of sustainable aviation fuel no longer conducts the particular business activity requiring that classification.(2) If the Director of the Arkansas Economic Development Commission and the Secretary of the Department of Finance and Administration find that a significant impairment of Arkansas job opportunities for existing employees will otherwise occur, they may jointly authorize the counting of existing employees as new full-time permanent employees; and(iii) Has been filled for at least twenty-six (26) consecutive weeks with an average of at least thirty (30) hours worked per week.(B) “New full-time permanent employee” includes a contractual employee who works at the qualified sustainable aviation fuel project identified in the incentive agreement only if the contractual employee is offered a benefits package comparable to a direct employee of the qualified manufacturer of sustainable aviation fuel seeking incentives under this subchapter;
(A) “New full-time permanent employee” means a position or job that:(i) Is created pursuant to an executed incentive agreement;(ii) Is filled by one (1) or more employees or contractual employees who:(a) Were Arkansas taxpayers during the year in which the tax credits or incentives were earned;(b) (1) Work at or fill a position dedicated to the qualified sustainable aviation fuel project identified in the incentive agreement.(2) A new employee of the business that enters into the incentive agreement under this subchapter who does not work at the qualified sustainable aviation fuel project may be counted if the new employee:(A) Otherwise meets the definition of a new full-time permanent employee;(B) Is subject to the Arkansas Income Tax Withholding Act of 1965, § 26-51-901 et seq.;(C) Is paid an average annual salary of at least one hundred thousand dollars ($100,000); and(D) Is verified by reports and methods established as required by the incentive agreement; and(c) (1) Are not employees hired by a qualified manufacturer of sustainable aviation fuel before the date the incentive agreement was executed unless:(A) The position or job filled by the existing employee was created in accordance with the incentive agreement; and(B) The position vacated by the existing employee was either filled by a subsequent employee or no subsequent employee will be hired because the qualified manufacturer of sustainable aviation fuel no longer conducts the particular business activity requiring that classification.(2) If the Director of the Arkansas Economic Development Commission and the Secretary of the Department of Finance and Administration find that a significant impairment of Arkansas job opportunities for existing employees will otherwise occur, they may jointly authorize the counting of existing employees as new full-time permanent employees; and(iii) Has been filled for at least twenty-six (26) consecutive weeks with an average of at least thirty (30) hours worked per week.
(i) Is created pursuant to an executed incentive agreement;
(ii) Is filled by one (1) or more employees or contractual employees who:(a) Were Arkansas taxpayers during the year in which the tax credits or incentives were earned;(b) (1) Work at or fill a position dedicated to the qualified sustainable aviation fuel project identified in the incentive agreement.(2) A new employee of the business that enters into the incentive agreement under this subchapter who does not work at the qualified sustainable aviation fuel project may be counted if the new employee:(A) Otherwise meets the definition of a new full-time permanent employee;(B) Is subject to the Arkansas Income Tax Withholding Act of 1965, § 26-51-901 et seq.;(C) Is paid an average annual salary of at least one hundred thousand dollars ($100,000); and(D) Is verified by reports and methods established as required by the incentive agreement; and(c) (1) Are not employees hired by a qualified manufacturer of sustainable aviation fuel before the date the incentive agreement was executed unless:(A) The position or job filled by the existing employee was created in accordance with the incentive agreement; and(B) The position vacated by the existing employee was either filled by a subsequent employee or no subsequent employee will be hired because the qualified manufacturer of sustainable aviation fuel no longer conducts the particular business activity requiring that classification.(2) If the Director of the Arkansas Economic Development Commission and the Secretary of the Department of Finance and Administration find that a significant impairment of Arkansas job opportunities for existing employees will otherwise occur, they may jointly authorize the counting of existing employees as new full-time permanent employees; and
(a) Were Arkansas taxpayers during the year in which the tax credits or incentives were earned;
(b) (1) Work at or fill a position dedicated to the qualified sustainable aviation fuel project identified in the incentive agreement.(2) A new employee of the business that enters into the incentive agreement under this subchapter who does not work at the qualified sustainable aviation fuel project may be counted if the new employee:(A) Otherwise meets the definition of a new full-time permanent employee;(B) Is subject to the Arkansas Income Tax Withholding Act of 1965, § 26-51-901 et seq.;(C) Is paid an average annual salary of at least one hundred thousand dollars ($100,000); and(D) Is verified by reports and methods established as required by the incentive agreement; and
(1) Work at or fill a position dedicated to the qualified sustainable aviation fuel project identified in the incentive agreement.
(2) A new employee of the business that enters into the incentive agreement under this subchapter who does not work at the qualified sustainable aviation fuel project may be counted if the new employee:(A) Otherwise meets the definition of a new full-time permanent employee;(B) Is subject to the Arkansas Income Tax Withholding Act of 1965, § 26-51-901 et seq.;(C) Is paid an average annual salary of at least one hundred thousand dollars ($100,000); and(D) Is verified by reports and methods established as required by the incentive agreement; and
(A) Otherwise meets the definition of a new full-time permanent employee;
(B) Is subject to the Arkansas Income Tax Withholding Act of 1965, § 26-51-901 et seq.;
(C) Is paid an average annual salary of at least one hundred thousand dollars ($100,000); and
(D) Is verified by reports and methods established as required by the incentive agreement; and
(c) (1) Are not employees hired by a qualified manufacturer of sustainable aviation fuel before the date the incentive agreement was executed unless:(A) The position or job filled by the existing employee was created in accordance with the incentive agreement; and(B) The position vacated by the existing employee was either filled by a subsequent employee or no subsequent employee will be hired because the qualified manufacturer of sustainable aviation fuel no longer conducts the particular business activity requiring that classification.(2) If the Director of the Arkansas Economic Development Commission and the Secretary of the Department of Finance and Administration find that a significant impairment of Arkansas job opportunities for existing employees will otherwise occur, they may jointly authorize the counting of existing employees as new full-time permanent employees; and
(1) Are not employees hired by a qualified manufacturer of sustainable aviation fuel before the date the incentive agreement was executed unless:(A) The position or job filled by the existing employee was created in accordance with the incentive agreement; and(B) The position vacated by the existing employee was either filled by a subsequent employee or no subsequent employee will be hired because the qualified manufacturer of sustainable aviation fuel no longer conducts the particular business activity requiring that classification.
(A) The position or job filled by the existing employee was created in accordance with the incentive agreement; and
(B) The position vacated by the existing employee was either filled by a subsequent employee or no subsequent employee will be hired because the qualified manufacturer of sustainable aviation fuel no longer conducts the particular business activity requiring that classification.
(2) If the Director of the Arkansas Economic Development Commission and the Secretary of the Department of Finance and Administration find that a significant impairment of Arkansas job opportunities for existing employees will otherwise occur, they may jointly authorize the counting of existing employees as new full-time permanent employees; and
(iii) Has been filled for at least twenty-six (26) consecutive weeks with an average of at least thirty (30) hours worked per week.
(B) “New full-time permanent employee” includes a contractual employee who works at the qualified sustainable aviation fuel project identified in the incentive agreement only if the contractual employee is offered a benefits package comparable to a direct employee of the qualified manufacturer of sustainable aviation fuel seeking incentives under this subchapter;
(3) “Qualified manufacturer of sustainable aviation fuel” means a taxpayer who:(A) Is a natural person, a company, or a corporation that is engaged in the manufacture, refinement, or processing of sustainable aviation fuel in this state;(B) Uses more than eighty percent (80%) of the electricity and natural gas consumed in the manufacture, refinement, or processing of sustainable aviation fuel to provide power for reactors, distillation columns, heaters, pumps, compressors, coolers, and other sustainable aviation fuel production and processing equipment; and(C) Has an incentive agreement;
(A) Is a natural person, a company, or a corporation that is engaged in the manufacture, refinement, or processing of sustainable aviation fuel in this state;
(B) Uses more than eighty percent (80%) of the electricity and natural gas consumed in the manufacture, refinement, or processing of sustainable aviation fuel to provide power for reactors, distillation columns, heaters, pumps, compressors, coolers, and other sustainable aviation fuel production and processing equipment; and
(C) Has an incentive agreement;
(4) “Qualified sustainable aviation fuel project” means a facility located in the state that:(A) Manufactures sustainable aviation fuel;(B) Has an installed facility cost of more than two billion dollars ($2,000,000,000), as verified by the commission;(C) Will employ seventy-five (75) or more new full-time permanent employees; and(D) Begins construction on or before December 31, 2027;
(A) Manufactures sustainable aviation fuel;
(B) Has an installed facility cost of more than two billion dollars ($2,000,000,000), as verified by the commission;
(C) Will employ seventy-five (75) or more new full-time permanent employees; and
(D) Begins construction on or before December 31, 2027;
(5) “Sustainable aviation fuel” means kerosene-type jet fuel derived from wood biomass; and
(6) (A) “Sustainable aviation fuel production and processing equipment” means machinery and equipment that are essential for the receiving, storing, processing, and testing of raw materials used in producing or processing sustainable aviation fuel or the production, storage, testing, and shipping of a finished product of a qualified sustainable aviation fuel project, or both.(B) “Sustainable aviation fuel production and processing equipment” does not include a motor vehicle.
(A) “Sustainable aviation fuel production and processing equipment” means machinery and equipment that are essential for the receiving, storing, processing, and testing of raw materials used in producing or processing sustainable aviation fuel or the production, storage, testing, and shipping of a finished product of a qualified sustainable aviation fuel project, or both.
(B) “Sustainable aviation fuel production and processing equipment” does not include a motor vehicle.