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Arkansas Code Title 26. Taxation § 26-51-2606. Rules

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) The Division of Arkansas Heritage shall promulgate rules to implement this subchapter that shall include criteria for the prioritizing of the rehabilitation applications and that will stimulate the local economy where the property is located, including without limitation the criteria that the rehabilitation project will be prioritized in the following order:

(1) Result in the creation of a new business;

(2) Result in the expansion of an existing business;

(3) Establish or contribute to the establishment of a tourism attraction as defined by the Department of Parks, Heritage, and Tourism;

(4) Contribute to the revitalization of a specific business district; or

(5) Be a key property in the revitalization of a specific neighborhood.

(b) The Division of Arkansas Heritage shall consult with the Department of Finance and Administration, the Arkansas Economic Development Commission, and the State Insurance Department in promulgating rules under this subchapter.

(c) The Department of Parks, Heritage, and Tourism shall promulgate rules to define a “tourism attraction” as provided in subdivision (a)(3) of this section.

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Cite this article: FindLaw.com - Arkansas Code Title 26. Taxation § 26-51-2606. Rules - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-26-taxation/ar-code-sect-26-51-2606/

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