Arkansas Administrative Code

26 CAR § 260-304. Certificate of completion. (a) The taxpayer shall provide written notice to the Department of Agriculture when the project is completed and available for final inspection. (b) At that time the taxpayer will provide a report on the actual cost of the project if t…

26 CAR § 260-305. Eligible costs. (a) Any portion of a project that is a mitigation activity required under state or federal law shall not be eligible for tax credit under the Arkansas Private Wetland and Riparian Zone Creation, Restoration, and Conservation Tax Credits Act, Arka…

26 CAR § 260-306. Approved design standards. (a) Project activities shall meet or exceed those standards as established in this subpart. (b) Projects should be developed in consultation with a professional, such as a governmental natural resources planning employee or a private c…

26 CAR § 260-307. Minimum standards for projects. (a)(1) The purpose for the creation and restoration of wetlands and riparian zones is to provide the state with significant benefits in the areas of: (A) Flood control; (B) Water quality enhancement; (C) Sediment reduction; (D) Fi…

26 CAR § 260-308. Specific standards for riparian zones. (a)(1) Generally, the minimum width desired for a zone will be fifty feet (50’). (2) However, each project will be considered on a case-by-case basis by evaluating the: (A) Water flow of the stream; (B) Slope of the ground;…

26 CAR § 260-309. Specific standards for wetlands. (a) The project shall be compatible with the Arkansas Wetland Conservation Plan. (b) The project shall restore hydrologic conditions as close to the original condition as practical. (c)(1) Particularly in the case of created wetl…

26 CAR § 260-310. Failure to complete installation. (a) If the Department of Agriculture determines that failure to complete the project within three (3) years of receipt of the certificate of tax credit approval is the result of conditions beyond the control of the taxpayer, the…

26 CAR § 260-311. Tax consequences. (a) Upon termination of the project, the taxpayer shall not be allowed any further tax credits provided under the Arkansas Private Wetland and Riparian Zone Creation, Restoration, and Conservation Tax Credits Act, Arkansas Code § 26-51-1501 et …

26 CAR § 260-401. Application for conservation tax credit. (a) Applicants must submit a completed conservation application on a form provided by the Department of Agriculture along with the application fee. (b) The application form shall require the following information: (1) Ide…

26 CAR § 260-402. Conditional approval of conservation tax credit. (a) An eligible donor may apply for conditional approval of a wetland and riparian zone conservation tax credit before a qualified real property interest donation has been recorded. (b) If conditional approval of …

26 CAR § 260-403. Committee and director review. (a) Upon receipt of the application, the Department of Agriculture shall make the application available to the Private Wetland and Riparian Zone Creation, Restoration, and Conservation Committee for its review. (b) The committee sh…

26 CAR § 260-404. Department of Finance and Administration review. For good cause shown, the Department of Finance and Administration may review and either accept or reject in whole or in part any wetland and riparian zone conservation tax credit claimed by a taxpayer and may req…

26 CAR § 260-405. Limitations. (a) The taxpayer shall file the certificate of tax credit approval with the income tax return for the first year in which the taxpayer claims a tax credit under the Arkansas Private Wetland and Riparian Zone Creation, Restoration, and Conservation T…

26 CAR § 260-406. Recordkeeping. The taxpayer shall maintain records related to this tax credit for six (6) years after filing an income tax return on which credit is claimed.

26 CAR § 260-501. Availability of credits. (a) Wetlands and riparian zone creation and restoration tax credits provided under the Arkansas Private Wetland and Riparian Zone Creation, Restoration, and Conservation Tax Credits Act, Arkansas Code § 26-51-1501 et seq., may be applied…

26 CAR § 260-502. Use of assigned credits. (a) Any unused tax credit under the Arkansas Private Wetland and Riparian Zone Creation, Restoration, and Conservation Tax Credits Act, Arkansas Code § 26-51-1501 et seq.: (1) Shall survive the death of an individual taxpayer; and (2) Ma…

26 CAR § 261-101. Purpose. (a) The State of Arkansas is blessed with abundant rainfall and other surface and underground water resources that, when managed conjunctively, can provide a continuous high-quality water supply to meet the foreseeable needs of the entire state. (b) Exi…

26 CAR § 261-102. Definitions. Unless the context requires otherwise, the following definitions shall apply to this part: (1) "Acre-foot" means the volumetric measure equal to forty-three thousand five hundred sixty (43,560) cubic feet or approximately three hundred twenty-five t…

26 CAR § 261-103. Limitations. (a) Prior to claiming any tax credits under this program, a taxpayer must obtain a certificate of tax credit approval from the Director of the Arkansas Natural Resources Commission certifying to the Department of Finance and Administration that the …

26 CAR § 261-104. Recordkeeping. An approved applicant claiming a credit under the program must maintain all financial records for fifteen (15) years after the tax year in which the certificate of completion is issued.

26 CAR § 261-105. Appeals. (a) Except as otherwise provided herein, an applicant or an approved applicant may appeal, pursuant to 15 CAR § 1-501 et seq., any decision or action of the Director of the Arkansas Natural Resources Commission. (b) All decisions related to recapture of…

26 CAR § 261-201. Application for tax credit. (a) An applicant requesting a tax credit under this program must submit a written application on a form provided by the Director of the Arkansas Natural Resources Commission and pay a required fee, if applicable, to the Natural Resour…

26 CAR § 261-202. Fees. (a)(1) With the exception of applications for credits for the installation of water measuring or metering devices, an applicant shall pay to the Natural Resources Division of the Department of Agriculture a fee in an amount equal to three percent (3%) of t…

26 CAR § 261-203. Issuance of certificate of tax credit approval by the director. (a) After reviewing the application, the Director of the Arkansas Natural Resources Commission, if he or she determines that the project complies with the Water Resource Conservation and Development…

26 CAR § 261-204. Issuance of certificate of completion by the director. (a)(1) Upon completion of the project, the approved applicant shall make a written request to the Director of the Arkansas Natural Resources Commission for issuance of a certificate of completion. (2) As par…

26 CAR § 261-301. Project design, construction, and maintenance requirements. (a) Plans, designs, or specifications must be submitted to the Natural Resources Division of the Department of Agriculture for approval and must meet the following criteria: (1) The plans, designs, and …

26 CAR § 261-302. Project completion. (a) With the exception of an applicant applying for tax credit for installation of a water measuring or metering device, only project costs incurred after issuance of a certificate of tax credit approval shall be claimed for tax credit. (b) A…

26 CAR § 261-303. Project termination. (a)(1) If the approved applicant terminates the project prior to expiration of the minimum project life, the approved applicant shall provide written notification to the: (A) Director of the Arkansas Natural Resources Commission; and (B) Dep…

26 CAR § 261-401. Installation of a water measuring or metering device. (a)(1) An applicant must submit an Application for Water Meter Tax Credit to the Natural Resources Division of the Department of Agriculture. (2) Proof of purchase price of the device and of the installation …

26 CAR § 261-501. Transfer of ownership. (a) An approved applicant may freely transfer ownership of a tax credit to a transferee who shall be entitled to an income tax credit only to the extent the income tax credit is still available and has not been previously used by the appro…

26 CAR § 261-502. Perfecting transfer of ownership. A transferee of income tax credits under the Water Resource Conservation and Development Incentives Act, Arkansas Code § 26-51-1001 et seq., that seeks to qualify for the income tax credits provided in the Water Resource Conserv…

26 CAR § 261-503. Responsibility for failure to complete or maintain project. (a) If a project is not completed or maintained for the total number of years required under Arkansas Code § 26-51-1011, the approved applicant is responsible for refunding the income tax credit to the …

26 CAR § 270-101. Purpose. This part is promulgated pursuant to Arkansas Code § 26-51-506, which provides for an income tax credit, as well as recapture of the credit in certain instances, as an incentive for taxpayers to engage in waste reduction, reuse, or recycling activities …

26 CAR § 270-102. Definitions. For the purposes of this part, unless otherwise stated herein, the following definitions apply: (1) “Cost”, in the case of a transfer of title or a finance lease, means the amount of the purchase price and, in the case of a lease which is not a fina…

26 CAR § 270-103. Eligible costs. (a) Expenditures eligible for tax credit certification by the Director of the Division of Environmental Quality include waste reduction, reuse, or recycling equipment used exclusively for waste reduction, reuse, or recycling of solid waste for co…

26 CAR § 270-104. Ineligible costs. The following costs shall be ineligible for computing the allowable tax credit: (1) Expenditures for land and buildings; (2) Feasibility studies; (3) Engineering costs of buildings; (4) Equipment used to service the waste reduction, reuse, or r…

26 CAR § 270-105. Recordkeeping. (a) Taxpayers claiming a tax credit for waste reduction, reuse, or recycling equipment shall maintain accurate and timely records for all expenditures relating to such equipment. (b) In order to determine eligibility for the credit or to ensure th…

26 CAR § 270-106. Eligible applicants. A taxpayer must be engaged in the business of reducing, reusing, or recycling solid waste material for commercial purposes in Arkansas, whether or not for profit, in order to be eligible for tax credit certification under this part.

26 CAR § 270-107. Application forms. The Division of Environmental Quality will furnish forms to be used in the certification and reporting processes.

26 CAR § 270-108. Credit determination, maximum, and carryforward. (a) Final determination of the amount of eligible cost and available tax credits will be determined by the Commissioner of Revenues. (b) The amount of the credit that may be used by a taxpayer for a taxable year m…

26 CAR § 270-109. Apportionment of credit. (a) In the case of a proprietorship or partnership engaged in the business of waste reduction, reuse, or recycling of solid waste, the amount of the credit determined under this part for any tax year shall be apportioned to each propriet…

26 CAR § 270-110. Refund of credit. (a) The taxpayer shall refund the amount of the tax credit determined under this part if, within three (3) tax years of the tax year for which a credit is allowed: (1) The waste reduction, reuse, or recycling equipment is removed from Arkansas,…

26 CAR § 270-111. Limitations on other deductions. A taxpayer who receives a credit under this part shall not be entitled to claim any other state or local tax credit or deduction based on the purchase of the waste reduction, reuse, or recycling equipment, except for the deductio…

26 CAR § 270-201. Application process. (a)(1) Taxpayers must submit an application for tax credit certification no later than ninety (90) days following the calendar year in which waste reduction, reuse, or recycling equipment was purchased, final equipment expenditures are made,…

26 CAR § 270-202. Deadlines. If any applicable deadline under this part falls on a Saturday, Sunday, or legal holiday, the application shall be due on the next business day.

26 CAR § 270-203. Determination of eligibility. (a)(1) Applications for certification of tax credits made under this part shall be reviewed by the Division of Environmental Quality for completeness and accuracy. (2) The Director of the Division of Environmental Quality shall make…

26 CAR § 270-204. Informal settlement. (a) If a taxpayer disputes a decision on eligibility rendered by the Director of the Division of Environmental Quality, the taxpayer shall give notice in writing of said dispute no later than fifteen (15) days from the date which appears on …