1. (a)

   1. (1) Youth apprenticeship programs under Arkansas Code § 26-51-1601 et seq. [repealed], are certified by the Division of Career and Technical Education.
   2. (2) Program-related income tax credits are then verified and issued by the Tax Credits/Special Refunds Section of the Department of Finance and Administration.
   3. (3) The original certificate issued by the section must be attached to the taxpayer's first-year income tax return upon which the credit is being claimed.
   4. (4) The credit cannot exceed the amount of income tax due and can be carried forward for up to two (2) consecutive tax years immediately following the tax year in which the credit originated.

2. (b)

   1. (1) Arkansas Code § 26-51-1601 et seq. [repealed], enacted in 1997, extends the availability of the credit to youth who do not qualify under Arkansas Code § 26-51-509.
   2. (2) Arkansas Code § 26-51-1601 et seq., applies to tax years beginning on and after January 1, 1998.

   3. (3)

      1. (A) Arkansas Code § 26-51-509 applies to tax years beginning on and after January 1, 1996.
      2. (B) Any registered apprenticeship program under Arkansas Code § 26-51-509 must conform to federal regulations in effect on January 1, 1995.
3. (c) Allowable credits and carryforward time are the same between Arkansas Code §§ 26-51-509 and 26-51-1601 [repealed].

Codification Notes: Arkansas Code § 26-51-1601 et seq., was repealed by Acts 2017, No. 1042, § 2.