(a) (1) The Department of Arkansas Heritage may charge a fee to process:
(A) An application for an Arkansas historic rehabilitation income tax credit; and
(B) A request to record transfers of interests in an Arkansas historic rehabilitation income tax credit to other holders.
(2) The fee for processing an application for an Arkansas historic rehabilitation income tax credit shall not exceed two and five-tenths percent (2.5%) of the amount of the Arkansas historic rehabilitation income tax credit applied for or seventy-five hundredths percent (0.75%) of the amount of the Arkansas historic rehabilitation income tax credit transferred, whichever is less.
(b) A fee collected under this subchapter by the department shall be considered cash funds of the department and shall be used for the administration of this subchapter.
Section: Previous 26-51-2202 26-51-2203 26-51-2204 26-51-2205 26-51-2206 26-51-2207 26-51-2208 NextLast modified: November 15, 2016