(a)(1) The Secretary of the Department of Finance and Administration may make rules and prescribe forms for a taxpayer to claim the investment tax credit provided by this subchapter and for the proper enforcement of the claim.(2) The Department of Finance and Administration shall consult with the governing bodies of the central business improvement districts in making rules under this subchapter to maintain consistency with the purpose and intent of this subchapter.(b) A fee collected under § 26-51-2404 by the governing body of the central business improvement district shall be deposited into the treasury cash fund of the governing body of a central business improvement district receiving the fee.(c) The department and the governing body of a central business improvement district may inspect facilities and records of a taxpayer requesting or receiving an investment tax credit as necessary to verify a claim.(d) The secretary shall demand the repayment of any investment tax credits taken in excess of the investment tax credit allowed by this subchapter.Amended by Act 2019, No. 910,§ 3802, eff. 7/1/2019.Amended by Act 2019, No. 910,§ 3801, eff. 7/1/2019. Acts 2011, No. 1166, § 1.
Arkansas Legal Code