Arkansas Code Title 15, Subtitle 1, Chapter 4, Subchapter 36 - New Markets Jobs Act of 2013
- § 15-4-3601 - Title.
This subchapter shall be known and may be cited as the "New Markets Jobs Act of 2013".
- § 15-4-3602 - Definitions.
As used in this subchapter: (1) "Applicable percentage" means: (A) Zero percent (0%) for the first two (2) credit allowance dates; (B) Twelve percent...
- § 15-4-3603 - New Market Tax Credit.
(a) A corporation, limited liability company, association, partnership, or other business entity that makes a qualified equity investment earns a vested right to a...
- § 15-4-3604 - Transferability.
(a) A tax credit claimed under this subchapter shall not be refundable or saleable on the open market.(b) (1) A tax credit earned by...
- § 15-4-3605 - Certification of Qualified Equity Investments.
(a) (1) (A) (i) A qualified community development entity that seeks to have an equity investment or a long-term debt security designated as a...
- § 15-4-3606 - Letter Rulings.
(a) Subject to the requirements and limitations of this section, the Arkansas Economic Development Commission shall issue letter rulings regarding the tax credit program...
- § 15-4-3607 - Recapture.
The Arkansas Economic Development Commission shall recapture the tax credit allowed under this subchapter from the taxpayer that claimed the tax credit if: (1)...
- § 15-4-3608 - Cure Period -- Notice of Noncompliance.
(a) Enforcement of each of the recapture provisions under § 15-4-3607 is subject to a six-month cure period.(b) Recapture shall not occur until the...
- § 15-4-3609 - Refundable Performance Fee.
(a) A qualified community development entity that seeks to have an equity investment or long-term debt security designated as a qualified equity investment eligible...
- § 15-4-3610 - Retaliatory Tax.
(a) An entity claiming a tax credit under this subchapter is not required to pay any additional retaliatory tax levied under § 23-63-102 as...
- § 15-4-3611 - Decertification.
(a) (1) If a qualified equity investment is certified under § 15-4-3605, the qualified equity investment shall not be decertified unless the requirements of...
- § 15-4-3612 - Reports.
(a) (1) A qualified community development entity that issues a qualified equity investment under this subchapter shall submit a report to the Arkansas Economic...
- § 15-4-3613 - Revenue Impact Assessment.
(a) (1) Before making a qualified low-income community investment, a qualified community development entity shall submit to the Arkansas Economic Development Commission for review...
- § 15-4-3614 - Rules.
The Arkansas Economic Development Commission shall promulgate rules to implement this subchapter.
Last modified: November 15, 2016