(1) "Motorcycle owners' organization" means an entity that is organized as a nonprofit entity or for-profit entity and in good standing with the Secretary of State;
(2) "Nonprofit entity" means an entity that has received tax-exempt status from the Internal Revenue Service pursuant to section 501(c)(3) or section (501)(c)(4) of the Internal Revenue Code of 1986, 26 U.S.C. § 501(c)(3) or 26 U.S.C. § 501(c)(4), as they existed on January 1, 2007;
(3) "Public venue" means a location that:
(A) Is open to the general public; and
(B) Is not the address designated as the primary business address of a new motor vehicle dealer licensed by the Arkansas Motor Vehicle Commission or a used motor vehicle dealer licensed by the Department of Arkansas State Police;
(4) "Significant positive economic impact" means an economic benefit of at least three million dollars ($3,000,000) to the state or a region of the state; and
(5) "Special motorcycle event" means an event held at a public venue with or without an admission fee that:
(A) Is sponsored by a city, a county, a nonprofit entity, or a motorcycle owners' organization;
(B) Occurs not more than one (1) time each year for no more than seven (7) consecutive days; and
(C) Includes any of the following that are invited to attend:
(i) New motor vehicle dealers to display and sell motorcycles; or
(ii) New motor vehicle manufacturers or distributors to display motorcycles.
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