1. (a) Upon information that any person listed in 15 CAR § 61-102 may have committed any felony or at the discretion of the President of the Arkansas Development Finance Authority, the Arkansas Development Finance Authority, pursuant to authority established by Arkansas Code § 15-5-214, shall require such person to apply for, pay for, and release for review by the Arkansas Development Finance Authority, criminal background checks obtained through the Division of Arkansas State Police and the Federal Bureau of Investigation.
2. (b) Such person will be required to request the criminal background checks within two (2) weeks of receiving notification from the Arkansas Development Finance Authority that such a request must be made.
3. (c) The Arkansas Development Finance Authority will furnish a form, acceptable to the division and the Federal Bureau of Investigation, to such person for use in making the request.

4. (d) Failure to make the request as required or ensure for its payment or release for the Arkansas Development Finance Authority’s consideration will result in a disqualification of the application or, if applicable, a return of:

   1. (1) LIHTCs;
   2. (2) HOME Investment Partnerships Program funds; or
   3. (3) Economic development bond funds or direct loans.

Codification Notes: "LIHTC" means low-income housing tax credit.