Registration of tax credits

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  1. (a) The Arkansas Development Finance Authority, in conjunction with the Revenue Division of the Department of Finance and Administration, shall develop a system for registration of all tax credits claimed under this subchapter.

  2. (b) The system shall verify that any:

    1. (1) Tax credit claimed upon a tax return is valid and properly taken in the year of claim; and

    2. (2) Transfer of the tax credit is made in accordance with the requirements of this subchapter.


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