(a) Qualifying tourism attraction projects are defined as one (1) or more of the following:

1. (1) Cultural or historical sites;
2. (2) Recreational or entertainment facilities;
3. (3) Areas of natural phenomenon or scenic beauty;
4. (4) Theme parks;
5. (5) Amusement or entertainment parks;
6. (6) Indoor or outdoor plays or music shows;
7. (7) Botanical gardens;
8. (8) Cultural or educational centers; and

9. (9) A lodging facility may qualify, but only if it meets one (1) of the following tests:

   1. (A) It must constitute a portion of a tourism attraction project and represent less than sixty percent (60%) of the total approved costs of the tourism attraction project;
   2. (B) If the approved cost for the lodging facility exceeds five million dollars ($5,000,000) and one (1) of the following is met:

(i) The lodging facility is attached to a convention center containing a minimum of seventy-five thousand square feet (75,000 sq. ft.); or

1. (ii)

(b) (b) Proposed projects under this category must be approved by the Director of the Arkansas Economic Development Commission prior to April 1, 2011; or

1. (C) The lodging facility is located within a Natural State Initiative Opportunity Zone.

(b)

1. (1) Eligible tourism attraction projects do not have to be new construction projects.
2. (2) The expansion and/or purchase of existing properties may be eligible.

3. (3) However, the amount of sales tax credit can only be taken against the increased sales tax liability over and above the amount paid by the business being sold or expanded for the corresponding tax month of the previous year.

   1. (c)
4. (1) Privately owned facilities constructed on state or federal lands, via a minimum ten-year lease, may be eligible.

5. (2) Privately owned facilities constructed on state lands located within a Natural State Initiative Opportunity Zone shall not be subject to a minimum ten-year lease.

   1. (d) Ineligible businesses include:
6. (1) Lodging facilities, unless they meet the tests described above;
7. (2) Retail sales facilities, unless the goods are created on-site or if sales are incidental to the overall project;
8. (3) Facilities not open to the general public;
9. (4) Facilities not likely to attract overnight guests from outside the state who would stay in commercial lodging near the attraction;
10. (5) Facilities outside a Natural State Initiative Opportunity Zone owned by the State of Arkansas or its political subdivisions;
11. (6) Gambling facilities, unless for approved pari-mutuel racing currently regulated under Arkansas Code; and
12. (7) Restaurants located outside a Natural State Initiative Opportunity Zone.