1. (a)

   1. (1) The gross receipts or gross proceeds derived from gate admission fees at state, district, county, or township fairs are exempt from the tax.

   2. (2) The gross receipts or gross proceeds derived from gate admission fees at any rodeo are exempt from the tax if, and only if:

      1. (A) The gross receipts or gross proceeds derived from such fees are used exclusively for the improvement, maintenance, and operation of such rodeo; and
      2. (B) No part of the net earnings thereof inures to the benefit of any private stockholder or individual.
2. (b) The gross receipts or gross proceeds derived from the sale of tickets for admission to athletic events and interscholastic activities at public and private elementary and secondary schools in this state are exempt from the tax.
3. (c) The gross receipts or gross proceeds derived from the sale of tickets for admission to athletic events at public or private universities and colleges in Arkansas are exempt from the tax.

Codification Notes: This section as promulgated prior to codification into the Code of Arkansas Rules contained a footnote as follows: "Source: Ark. Code Ann. §§ 26-52-411; 26-52-412"