(a) The Arkansas Development Finance Authority, in conjunction with the Revenue Division of the Department of Finance and Administration, shall develop a system for registration of all tax credits claimed under this subchapter.
(b) The system shall verify that any:(1) Tax credit claimed upon a tax return is valid and properly taken in the year of claim; and(2) Transfer of the tax credit is made in accordance with the requirements of this subchapter.
(1) Tax credit claimed upon a tax return is valid and properly taken in the year of claim; and
(2) Transfer of the tax credit is made in accordance with the requirements of this subchapter.