Current as of January 01, 2020 | Updated by FindLaw Staff
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(a)(1) No person or entity may file for benefits under this subchapter if an application for benefits has been filed and approved under the Economic Investment Tax Credit Act, § 26-52-701 et seq., for the same project.
(2) However, an application for benefits under the Economic Investment Tax Credit Act, § 26-52-701 et seq., may be withdrawn if no tax credits have been taken under that subchapter.
(b)(1) When a project has been approved under the Economic Investment Tax Credit Act, § 26-52-701 et seq., no application for a project under this subchapter will be accepted until the expiration of one (1) year after the date of the approval of the application under the Economic Investment Tax Credit Act, § 26-52-701 et seq.
(2) When a project has been approved under this subchapter, no application for projects under the Economic Investment Tax Credit Act, § 26-52-701 et seq., shall be accepted until the expiration of one (1) year after the date of approval of the application under this subchapter.
Cite this article: FindLaw.com - Arkansas Code Title 15. Natural Resources and Economic Development § 15-4-1705. Projects under Manufacturer's Investment Sales and Use Tax Credit Act of 1985 - last updated January 01, 2020 | https://codes.findlaw.com/ar/title-15-natural-resources-and-economic-development/ar-code-sect-15-4-1705/
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