Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 27 - CONSOLIDATED INCENTIVE ACT OF 2003 (§§ 15-4-2701 — 15-4-2714) › Section 15-4-2712 - Restrictions

(a)
Except as provided in subsection (b) of this section, the incentives established by this subchapter may be combined.
(b)
(1)
The investment tax credit authorized in §
15-4-2706(c)
shall not be combined with the sales and use tax refund authorized in §
15-4-2706(d)
for the same project.
(2)
The following incentives for targeted businesses may be combined with each other for the same project as long as multiple incentives are not claimed for the same expenditures but shall not be combined with any other incentives authorized in this subchapter during the period in which the qualified business receives incentives under this subchapter:
(A)
The investment tax credit authorized under §
15-4-2706(b)(7)
may be combined with:
(i)
The research and development income tax credits authorized under §
15-4-2708(b)
; and
(ii)
Either the:
(a)
Payroll rebate program authorized under §
15-4-2707(e)
; or
(b)
Payroll tax credit program authorized under §
15-4-2709
;
(B)
The sales and use tax refund authorized under §
15-4-2706(e)
may be combined with:
(i)
The research and development income tax credits authorized under §
15-4-2708(b)
; and
(ii)
Either the:
(a)
Payroll rebate program authorized under §
15-4-2707(e)
; or
(b)
Payroll tax credit program authorized under §
15-4-2709
;
(C)
The payroll rebate program authorized under §
15-4-2707(e)
may be combined with:
(i)
The research and development income tax credits authorized under §
15-4-2708(b)
; and
(ii)
Either the:
(a)
Investment tax credit program authorized under §
15-4-2706(b)(7)
; or
(b)
Sales and use tax refund program authorized under §
15-4-2706(e)
;
(D)
The payroll income tax credit authorized under §
15-4-2709
may be combined with:
(i)
The research and development income tax credits authorized under §
15-4-2708(b)
; and
(ii)
Either the:
(a)
Investment tax credit authorized under §
15-4-2706(b)(7)
; or
(b)
Sales and use tax refund program authorized under §
15-4-2706(e)
; and
(E)
The research and development income tax credits authorized under §
15-4-2708(b)
may be combined with:
(i)
Either the:
(a)
Payroll rebate program authorized under §
15-4-2707(e)
; or
(b)
Payroll tax credit program authorized under §
15-4-2709
; and
(ii)
Either the:
(a)
Investment tax credit program authorized under §
15-4-2706(b)(7)
; or
(b)
Sales and use tax refund program authorized under §
15-4-2706(e)
.
(3)
The investment tax credit authorized in §
15-4-2706(b)
shall not be combined with the sales and use tax credit authorized in §
15-4-2706(e)
for the same project.
(4)
The job-creation tax credit authorized in §
15-4-2705
shall not be combined with the payroll rebate program authorized in §
15-4-2707
.
(5)
The investment tax credit authorized in §
15-4-2706(b)
shall not be combined with the sales and use tax refund authorized in §
15-4-2706(d)
for the same project.
(6)
The investment tax credit authorized under §
15-4-2706(b)
shall not be combined with the sales and use tax credit authorized under §
15-4-2706(c)
for the same project.
(c)
The following are discretionary incentives and are not available unless offered by the Arkansas Economic Development Commission:
(1)
The payroll rebate program authorized in §
15-4-2707
;
(2)
The job-creation tax credit authorized in §
15-4-2709
;
(3)
The investment tax credit authorized in §
15-4-2706(b)
;
(4)
The sales and use tax refund authorized in §
15-4-2706(e)
; and
(5)
The research and development tax credits authorized in §
15-4-2708(a)
-(c).
Amended by Act 2019, No. 327,§ 1, eff. 7/24/2019.
Acts 2003, No. 182, § 1; 2009, No. 716, § 13.