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Key Votes

HB 1870 - Appropriates Funds for Steel Mill Project - Key Vote

Arkansas Key Votes

Mike Beebe signed this Legislation.

Read statements Mike Beebe made in this general time period.

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Stage Details

Legislation - Signed (Executive) -

Title: Appropriates Funds for Steel Mill Project

Legislation - Bill Passed (Senate) (31-4) -
Legislation - Bill Passed (House) (78-17) - (Key vote)

Title: Appropriates Funds for Certain Steel Mills

Vote Result
Yea Votes
Nay Votes
Vote Smart's Synopsis:

Vote to pass a bill that appropriates funding for a steel mill and establishes tax exemptions for qualified steel manufacturers.

Highlights:
  • Authorizes the Arkansas Development Finance Authority to issue state bonds of up to $125 million to Big River Steel, LLC. for the acquisition, development, construction, and operation of a mini-mill steel manufacturing facility in Mississippi County (Sec. 2).
  • Exempts a manufacturer of steel from the gross receipts tax beginning on the date that production, processing, and testing equipment are first in operation (Sec. 6).
  • Requires a manufacturer of steel to obtain a certification that the following criteria are met in order to be exempt from the gross receipts tax (Sec. 5):
    • It is a manufacturer of steel;
    • It operates a steel mill which began production after January 1, 2013; and
    • It has invested, between January 1, 2013 and December 31, 2015, at least $500 million in the steel mill.
  • Requires a manufacturer of steel to complete the following actions in order to continue to be exempt from the gross receipts tax after December 31, 2018 (Sec. 5):
    • Annually meet the original eligibility requirements for the exemption; and
    • Employ at least 300 individuals at an average wage each of $70,000 per year
Legislation - Introduced (House) -

Title: Appropriates Funds for Certain Steel Mills

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