Arkansas § 26-51-2804 Rules

Arkansas Statutes

§ 26-51-2804 — Rules

(a)The Department of Finance and Administration may adopt rules to implement and administer this subchapter and to enable the certification of the income tax credit amount earned by each eligible taxpayer.

(b)The Department of Commerce shall adopt rules to:

(1)Permit verification of an eligible taxpayer's railroad track maintenance expenditures for purposes of claiming the income tax credit allowed under this subchapter;

(2)Provide for the approval of railroad track maintenance expenditures before a project commences; and (3) (A) Provide for a certificate of verification upon the completion of a project that uses railroad track maintenance expenditures.

(B)The certificate of verification provided for by rule under this subsection shall satisfy all requirements of the Department of Fin

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(a) The Department of Finance and Administration may adopt rules to implement and administer this subchapter and to enable the certification of the income tax credit amount earned by each eligible taxpayer. (b) The Department of Commerce shall adopt rules to: (1) Permit verification of an eligible taxpayer's railroad track maintenance expenditures for purposes of claiming the income tax credit allowed under this subchapter; (2) Provide for the approval of railroad track maintenance expenditures before a project commences; and (3) (A) Provide for a certificate of verification upon the completion of a project that uses railroad track maintenance expenditures. (B) The certificate of verification provided for by rule under this subsection shall satisfy all requirements of the Department of Finance and Administration pertaining to the eligibility of the person claiming an income tax credit under this subchapter.

Arkansas § 26-51-2804 (Rules) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.