Arkansas Administrative Code

15 CAR § 97-115. Market study analyst — Arkansas Development Finance Authority-approved list. (a) All market studies submitted as part of an application for housing tax credits must be performed by a market study analyst included on the Arkansas Development Finance Authority’s ma…

15 CAR § 15-98-101. Policies and procedures regarding suspension from participation in Arkansas Development Finance Authority housing programs. (a) The provision of these policies and procedures shall apply to any housing program administered or housing transaction funded by the …

15 CAR § 140-101. Introduction — Overview. (a) The Arkansas Business and Technology Accelerator Grant Program, provided for by Acts 2017, No. 165, as codified in the Arkansas Business and Technology Accelerator Act, Arkansas Code § 15-3-601 et seq., was created to stimulate innov…

15 CAR § 140-102. Definitions. As used in this part: (1) “Business and technology accelerator” means a full-time, immersive program administered by an eligible applicant to potentially invest in, mentor, and accelerate commercial development of startup businesses; (2) “Business a…

15 CAR § 140-103. Eligibility. (a) Eligible applicants. To be eligible to receive Arkansas Business and Technology Accelerator Grant Program funding, an applicant shall: (1) Meet the definition of “eligible applicant”; and (2) Submit a completed, signed application on forms provi…

15 CAR § 140-104. Application process. (a) Application submittal. (1) To request Arkansas Business and Technology Accelerator Grant Program funds, eligible applicants shall, utilizing forms prescribed by the Division of Science and Technology of the Arkansas Economic Development …

15 CAR § 140-105. Grant agreements. (a)(1) Arkansas Business and Technology Accelerator Grant Program grants may be awarded at the discretion of the Director of the Arkansas Economic Development Commission. (2) Grant agreements shall specify: (A) The eligibility date for incurrin…

15 CAR § 140-106. Confidential information. (a) Applications submitted to the Division of Science and Technology of the Arkansas Economic Development Commission are subject to the Freedom of Information Act of 1967, Arkansas Code § 25-19-101 et seq. (b) To the extent an applicant…

15 CAR § 140-107. Reimbursement. Disbursements of Arkansas Business and Technology Accelerator Grant Program funds shall be made on a reimbursable basis, payable when invoices and financial reports are submitted to the Division of Science and Technology of the Arkansas Economic D…

15 CAR § 140-108. Final report. (a) Grantees shall submit final reports, upon full expenditure of Arkansas Business and Technology Accelerator Grant Program funds, in accordance with terms specified in the grant agreement. (b) Reports shall: (1) Include a one-page nonproprietary …

15 CAR § 141-101 Introduction. (a) Overview. (1)(A) The Arkansas Small Business Innovation Research Matching Grant Program, Acts 2017, No. 166, was created to stimulate innovation and growth among the state’s technology businesses. (B) The program, administered by the Division of…

15 CAR § 141-102. Definitions. As used in this part: (1) “Eligible business” means a for-profit business that: (A) Is registered as a business entity in good standing; and (B) Has its principal place of business in Arkansas; (2) “Matching grant” means a discretionary grant of up …

15 CAR § 141-103. Eligibility. (a) Applicants. To be eligible to receive Arkansas Small Business Innovation Research Matching Grant Program funding, applicants shall: (1) Submit a completed signed application, under forms provided by the Division of Science and Technology of the …

15 CAR § 141-104. Application process. (a) Application submittal. (1) To request Arkansas Small Business Innovation Research Matching Grant Program funds, eligible businesses shall, utilizing forms prescribed by the Division of Science and Technology of the Arkansas Economic Deve…

15 CAR § 141-105. Grant agreements. (a)(1) Arkansas Small Business Innovation Research Matching Grant Program grants may be awarded, pending availability of funds, at the discretion of the Director of the Arkansas Economic Development Commission. (2) Grant agreements shall specif…

15 CAR § 141-106. Confidential information. (a) Applications submitted to the Division of Science and Technology of the Arkansas Economic Development Commission are subject to the Freedom of Information Act of 1967, Arkansas Code § 25-19-101 et seq. (b) To the extent an applicant…

15 CAR § 141-107. Reimbursement. Disbursements of matching grant funds shall be made on a reimbursable basis, payable when invoices and financial reports are submitted to the Division of Science and Technology of the Arkansas Economic Development Commission.

15 CAR § 141-108. Final report. (a) Grantees shall submit final reports, upon full expenditure of Arkansas Small Business Innovation Research Matching Grant Program grant funds, in accordance with terms specified in the grant agreement. (b) Reports shall: (1) Include a one-page n…

15 CAR § 142-101. Introduction. (a) To encourage growth in Arkansas’s tourism industry, Acts 1997, No. 291, was passed by the 81st General Assembly in 1997 and amended in 1999, 2001, 2005, 2007, 2009, and 2023. (b)(1) The legislation’s purpose is to stimulate expansion of Arkansa…

15 CAR § 142-102. Definitions. As used in this part: (1) “Agreement” means a financial incentive agreement entered into pursuant to Arkansas Code § 15-11-506, by and between the Director of the Arkansas Economic Development Commission and an approved company, with respect to a to…

15 CAR § 142-103. Qualifications. (a) Qualifying tourism attraction projects are defined as one (1) or more of the following: (1) Cultural or historical sites; (2) Recreational or entertainment facilities; (3) Areas of natural phenomenon or scenic beauty; (4) Theme parks; (5) Amu…

15 CAR § 142-104. Powers and duties of the Arkansas Economic Development Commission. (a) The Director of the Arkansas Economic Development Commission or designee of the director will review each application, making certain the project proposal meets the following minimum criteria…

15 CAR § 142-105. Terms of the financial incentive agreement. (a) The following types of expenses directly related to the tourism attraction project may be included in the total approved costs that are eligible for sales tax credits: (1) Land, outright purchase or leasehold inter…

15 CAR § 142-106. Administration of benefits. (a) State income tax credits — Not eligible for lodging facilities. (1) Upon notification from the Director of the Arkansas Economic Development Commission that an approved company has entered into a tourism attraction project financi…

15 CAR § 142-107. Restrictions. No person or entity may take advantage of this program and any other tax incentive program.

15 CAR § 142-108. Natural State Initiative Opportunity Zones. (a) Purpose. (1) The purpose of the Natural State Initiative Opportunity Zones is to: (A) Promote Arkansas’s growing outdoor recreation industry and the economic impact of outdoor infrastructure investment; (B) Recruit…

15 CAR § 144-101. Introduction. (a)(1) To qualify, companies must: (A) Operate or contract the operations of a childcare facility for the primary purpose of providing childcare services to its employees; and (B) Be certified by the Division of Child Care and Early Childhood Educa…

15 CAR § 144-102. Definitions. As herein used in this part: (1) “Appropriate early childhood program” means a developmentally appropriate program for young children approved by the Division of Child Care and Early Childhood Education; (2) “Childcare facility” means any facility t…

15 CAR § 144-103. Qualifications. (a) To qualify for the benefits of this rule, the business or businesses must: (1) Operate or contract the operations of a childcare facility for the primary purpose of providing childcare services to its employees; and (2) Be certified by the Di…

15 CAR § 144-104. Benefits. (a) Businesses qualified for benefits from this incentive may choose from two (2) options: (1)(A) Option one. (i) Obtain a refund of the gross receipts tax paid on the purchase of construction materials and furnishings used in the initial construction …

15 CAR § 144-105. Steps for qualifying for benefits from the Daycare Facility Act. (a) The business or businesses must submit an application with the Division of Child Care and Early Childhood Education to be certified as having an appropriate early childhood program. (b)(1) The …

15 CAR § 145-101. Introduction. (a) To encourage growth in Arkansas’s digital product and motion picture industry, the Digital Product and Motion Picture Industry Development Act of 2009, Acts 2009, No. 816, was enacted by the 87th General Assembly and codified at Arkansas Code §…

15 CAR § 145-102. Definitions. As used in this part: (1) “Application for a rebate or a tax credit” means the document required by the Film Office, a division of the Arkansas Economic Development Commission to begin the process for obtaining a tax incentive under the Digital Prod…

15 CAR § 145-103. Registration requirements. (a)(1) A production company that plans to operate within Arkansas shall register with the Film Office of the Arkansas Economic Development Commission on the prescribed forms before beginning operations in Arkansas. (2) The production c…

15 CAR § 145-104. Application for project approval requirements. (a)(1) A production company seeking a tax incentive under this program shall submit an application to receive the benefit as a rebate or an application to receive the benefit as a tax credit to the Arkansas Economic…

15 CAR § 145-105. Production tax incentive. (a) To qualify for a tax incentive for post-production expenditures, a production company shall spend at least two hundred thousand dollars ($200,000) within a six-month period in connection with the production of one (1) project. (b) U…

15 CAR § 145-106. Post-production tax incentive. (a) To qualify for a tax incentive for post-production expenditures, a production company shall spend at least fifty thousand dollars ($50,000) within a six-month period in connection with the production of one (1) project. (b) Upo…

15 CAR § 145-107. Weekly expenditure reports. (a)(1) Within two (2) weeks after principal photography begins, the production company shall begin filing weekly expenditure reports. (2) Failure to file weekly expenditure reports may result in a delay in the disbursement of the tax …

15 CAR § 145-108. Production costs certification. (a)(1) Within one hundred eighty (180) days after the last production costs are incurred, the production company shall: (A) Apply to the Arkansas Economic Development Commission for a production rebate certificate or a tax credit …

15 CAR § 145-109. Application to receive program incentive. (a)(1) Upon completion of filming or production, or both, in Arkansas, the production company shall file an application for the tax incentive allowed under the Digital Product and Motion Picture Industry Development Act …

15 CAR § 145-110. Issuance of tax incentive. (a) If the production company has opted to receive the incentive as a rebate: (1) Within ten (10) working days after the receipt of the certification from the Revenue Division of the Department of Finance and Administration, the Secret…

15 CAR § 145-111. Transfer of tax credit earned. (a)(1) An owner of a tax credit earned under the Digital Products and Motion Picture Industry Development Act of 2009, Arkansas Code § 15-4-2001 et seq., may transfer, sell, or assign some or all of the amount of the tax credit cer…

15 CAR § 145-112. Supplemental tax credits. (a) If the Director of the Arkansas Economic Development Commission receives an application for tax credits under this program that would exceed the amount of tax credits remaining to be issued in a fiscal year, the Director of the Arka…

15 CAR § 145-113. Production costs limitations. (a) Production companies are encouraged to make payments for production and post-production expenses from a checking account from an Arkansas financial institution. (b) Direct cash payments by a production company to Arkansas vendor…

15 CAR § 145-114. Penalties. (a) A production company that intends to apply for the tax incentive and does not register as required by Arkansas Code § 15-4-2004 may be enjoined from engaging in production activities in the state by any court of competent jurisdiction until the pr…

15 CAR § 146-101. Introduction. (a) Acts 2007, No. 566, also known as the “Equity Investment Incentive Act of 2007”, as amended and codified at Arkansas Code § 15-4-3301 et seq., provides a tax credit for equity investments in targeted, early-stage, and start-up businesses. (b) T…

15 CAR § 146-102. Definitions. As used in this part: (1) “Commission” means the Arkansas Economic Development Commission; (2) “Convertible financing structure” means an investment mechanism that converts into equity at a subsequent event, including without limitation: (A) Convert…

15 CAR § 146-103. Eligibility. Eligibility for the equity investment incentive tax credit under the Equity Investment Incentive Act of 2007, Arkansas Code § 15-4-3301 et seq., is limited to investments in: (1) Targeted businesses as defined in Arkansas Code § 15-4-2703(39); or (2…

15 CAR § 146-104. Approval. (a)(1) A business that seeks eligibility for an equity investment incentive tax credit under the Equity Investment Incentive Act of 2007, Arkansas Code § 15-4-3301 et seq., shall file an application with the Arkansas Economic Development Commission. (2…

15 CAR § 146-105. Equity investment tax credits. (a)(1) After the equity investment incentive agreement has been signed by the business and the Arkansas Economic Development Commission, the business may: (A) Solicit investors; and (B) Offer the equity investment incentive tax cre…