(a) (1) The Division of Arkansas Heritage may charge a fee to process: (A) An application for an Arkansas major historic rehabilitation income tax credit; and (B) A request to record transfers of interests in an Arkansas major 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 the lesser of one percent (1%) of the amount of the Arkansas major historic rehabilitation income tax credit applied for or seventy-five hundredths percent (0.75%) of the amount of the Arkansas major historic rehabilitation income tax credit transferred. (b) A fee collected under this subchapter by the division shall be considered cash funds of the division and shall be used for the administration of this subchapter. Added by Act 2019, No. 855,§ 2, eff. 7/24/2019. (a) (1) The Division of Arkansas Heritage may charge a fee to process: (A) An application for an Arkansas major historic rehabilitation income tax credit; and (B) A request to record transfers of interests in an Arkansas major 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 the lesser of one percent (1%) of the amount of the Arkansas major historic rehabilitation income tax credit applied for or seventy-five hundredths percent (0.75%) of the amount of the Arkansas major historic rehabilitation income tax credit transferred. (b) A fee collected under this subchapter by the division shall be considered cash funds of the division and shall be used for the administration of this subchapter. Added by Act 2019, No. 855,§ 2, eff. 7/24/2019. (a) (1) The Division of Arkansas Heritage may charge a fee to process: (A) An application for an Arkansas major historic rehabilitation income tax credit; and (B) A request to record transfers of interests in an Arkansas major 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 the lesser of one percent (1%) of the amount of the Arkansas major historic rehabilitation income tax credit applied for or seventy-five hundredths percent (0.75%) of the amount of the Arkansas major historic rehabilitation income tax credit transferred. (b) A fee collected under this subchapter by the division shall be considered cash funds of the division and shall be used for the administration of this subchapter. Added by Act 2019, No. 855,§ 2, eff. 7/24/2019. (a) (1) The Division of Arkansas Heritage may charge a fee to process: (A) An application for an Arkansas major historic rehabilitation income tax credit; and (B) A request to record transfers of interests in an Arkansas major 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 the lesser of one percent (1%) of the amount of the Arkansas major historic rehabilitation income tax credit applied for or seventy-five hundredths percent (0.75%) of the amount of the Arkansas major historic rehabilitation income tax credit transferred. (1) The Division of Arkansas Heritage may charge a fee to process: (A) An application for an Arkansas major historic rehabilitation income tax credit; and (B) A request to record transfers of interests in an Arkansas major historic rehabilitation income tax credit to other holders. (A) An application for an Arkansas major historic rehabilitation income tax credit; and (B) A request to record transfers of interests in an Arkansas major 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 the lesser of one percent (1%) of the amount of the Arkansas major historic rehabilitation income tax credit applied for or seventy-five hundredths percent (0.75%) of the amount of the Arkansas major historic rehabilitation income tax credit transferred. (b) A fee collected under this subchapter by the division shall be considered cash funds of the division and shall be used for the administration of this subchapter.
‹ Prev All Arkansas sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.