1. (a) The President of the Arkansas Development Finance Authority shall review the criminal background checks and any written information submitted by such person that he or she wants considered by the president.

2. (b) Unless the conviction has been the subject of an official pardon, expungement, annulment, concealment, or similar official treatment, the president may consider the following types of convictions to be disqualifying or good cause for the return of LIHTCs, HOME Investment Partnerships Program funds, or economic development bond funds or direct loans:

   1. (1) Any felony conviction within the last three (3) years;
   2. (2) Any felony against a person conviction within the last ten (10) years;
   3. (3) Any felony involving the manufacture or distribution of a controlled substance conviction within the last ten (10) years; or
   4. (4) Any felony against property conviction within the last seven (7) years.

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