Arkansas § 26-51-1701 Definitions

Arkansas Statutes

§ 26-51-1701 — Definitions

Arkansas § 26-51-1701

Title26

This text of Arkansas § 26-51-1701 (Definitions) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 26-51-1701 (2026).

Text

As used in this subchapter, unless the context clearly requires otherwise:

(1)"Authority" means the Arkansas Development Finance Authority, or its successor agency;

(2)"Eligibility statement" means a statement authorized and issued by the authority certifying that a given project qualifies for the Arkansas low-income housing tax credit. The authority shall promulgate rules establishing criteria upon which the eligibility statements will be issued. The eligibility statement shall specify the amount of the Arkansas low-income housing tax credit allowed;

(3)"Federal low-income housing tax credit" means the federal tax credit as provided in 26 U.S.C. § 42 , as amended;

(4)"Qualified project" means a qualified low-income building as that term is defined in 26 U.S.C. § 42 , as amended, which

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As used in this subchapter, unless the context clearly requires otherwise: (1) "Authority" means the Arkansas Development Finance Authority, or its successor agency; (2) "Eligibility statement" means a statement authorized and issued by the authority certifying that a given project qualifies for the Arkansas low-income housing tax credit. The authority shall promulgate rules establishing criteria upon which the eligibility statements will be issued. The eligibility statement shall specify the amount of the Arkansas low-income housing tax credit allowed; (3) "Federal low-income housing tax credit" means the federal tax credit as provided in 26 U.S.C. § 42 , as amended; (4) "Qualified project" means a qualified low-income building as that term is defined in 26 U.S.C. § 42 , as amended, which is located in Arkansas; and (5) "Taxpayer" means a person, firm or corporation subject to the state income tax imposed by provisions of §§ 26-51-101 - 26-51-1510 , or an insurance company paying an annual tax on its gross premium receipts in this state, or a financial institution paying income taxes to the State of Arkansas.