As used in this part:

1. (1) “Certain machinery and equipment” means items taxable under Arkansas Code §§ 26-52-301 and 26-52-302 on the sale of, and Arkansas Code §§ 26-53-106 and 26-53-107 on the privilege of storing, using, distributing, or consuming within this state, the following:

   1. (A) Machinery and equipment purchased to modify, replace, or repair, either in whole or in part, existing machinery or equipment used directly in producing, manufacturing, fabricating, assembling, processing, finishing, or packaging articles of commerce at a manufacturing or processing plant or facility in this state; and
   2. (B) Service relating to the initial installation, alteration, addition, cleaning, refinishing, replacement, or repair of machinery or equipment as defined in subdivision (1)(A) of this section, above;
2. (2) “Commission” means the Arkansas Economic Development Commission;

3. (3)

   1. (A) “Major maintenance and improvement project” means a project with a defined scope and beginning and ending dates, the range of which shall not exceed twenty-four (24) consecutive months, in which the taxpayer expends at least three million dollars ($3,000,000) on the purchase of tangible personal property and services subject to Arkansas Code §§ 26-52-447 and 26-53-149 that are either exempt from or subject to a partial refund of tax under:

      1. (i) Arkansas Code § 26-52-402;
      2. (ii) Arkansas Code § 26-52-447;
      3. (iii) Arkansas Code § 26-53-114; or
      4. (iv) Arkansas Code § 26-53-149.
   2. (B) The ending date of the project may be extended so that the range of dates is increased to forty-eight (48) consecutive months only with the written approval of the Director of the Arkansas Economic Development Commission and the Secretary of the Department of Finance and Administration;

4. (4) “Manufacturing” or “processing” means the same as defined under:

   1. (A) Arkansas Code § 26-53-114(b) for items taxable under Arkansas Code §§ 26-53-106 and 26-53-107; and
   2. (B) Arkansas Code § 26-52-402(b) for items taxable under Arkansas Code §§ 26-52-301 and 26-52-302;

5. (5) “Positive return on taxpayer’s investment” means information provided by the taxpayer requesting an increased refund of all sales and use taxes levied under Arkansas Code §§ 26-52-301, 26-52-302, 26-53-106, and 26-53-107 that reasonably proves that any or all of the following dollar amounts, when calculated cumulatively, will offset the amount of taxes refunded as a result of the major maintenance and improvement project:

   1. (A) Enhanced or retained productivity (expressed in dollars);
   2. (B) Enhanced or retained revenue, sales, or output (expressed in dollars);
   3. (C) Enhanced or retained employee compensation (expressed in dollars);
   4. (D) Enhanced or retained taxes paid (expressed in dollars); or
   5. (E) Any other quantifiable information requested by the Arkansas Economic Development Commission that the taxpayer may provide as reasonable proof of positive return of the taxpayer’s investment in the major maintenance and improvement project; and
6. (6) “Used directly” means the same as defined under Arkansas Code § 26-52-402(c) and § 26-53-114(c) and the Arkansas Gross Receipts Tax Rule, 26 CAR § 30-1136.