Unless the context requires otherwise, the following definitions shall apply to this part:

1. (1) "Acre-foot" means the volumetric measure equal to forty-three thousand five hundred sixty (43,560) cubic feet or approximately three hundred twenty-five thousand nine hundred (325,900) gallons;
2. (2) "Act" means the Water Resource Conservation and Development Incentives Act, Arkansas Code § 26-51-1001 et seq.;

3. (3) "Application" means a written request for approval for tax credits describing the project, including:

   1. (A) A water conservation plan outlining the operation of the project; and
   2. (B) Any additional requirements as the Arkansas Natural Resources Commission may adopt by rule;

4. (4) “Approved applicant” means an individual, fiduciary, partnership, limited liability company, or corporation that:

   1. (A) Submits a written request for approval of a project for tax credits in compliance with the Water Resource Conservation and Development Incentives Act; and
   2. (B) Receives a certificate of tax credit approval for that project;
5. (5) "Chief engineer" means the Chief Engineer of the Natural Resources Division of the Department of Agriculture;
6. (6) "Commission" means the Arkansas Natural Resources Commission, established pursuant to Arkansas Code § 15-20-201 et seq.;
7. (7) "Critical groundwater area" means those areas that are designated by the Arkansas Natural Resources Commission pursuant to the Arkansas Groundwater Protection and Management Act, Arkansas Code § 15-22-901 et seq.;
8. (8) "Department" means the Department of Finance and Administration;
9. (9) "Director" means the Director of the Arkansas Natural Resources Commission, who shall be appointed by and serve at the pleasure of the Governor;
10. (10) “Division” or “Natural Resources Division of the Department of Agriculture” references the Department of Agriculture employees responsible for carrying out the functions of the Arkansas Natural Resources Commission;
11. (11) "Fee" means the payment made by an applicant to the Natural Resources Division for processing the application pursuant to 26 CAR § 261-202;

12. (12) "Land-leveling" means modifying the surface relief of a field to a planned grade to provide a more suitable surface for efficiently applying irrigation water without:

    1. (A) Excessive erosion;
    2. (B) Loss of water quality; or
    3. (C) Damage to land by water logging;
13. (13) "Local district" means the conservation district in which the project is located;

14. (14) "Project" means:

    1. (A) The construction, installation, or restoration of a water impoundment or water control structure of twenty (20) acre-feet or more designed for storing water to be used for agricultural, commercial, or industrial purposes;
    2. (B) The conversion from groundwater to surface water use by an agricultural, commercial, industrial, or recreational water user;
    3. (C) Agricultural land-leveling resulting in water savings due to the more efficient use of irrigation water for which tax credits are claimed; or
    4. (D) The purchase and installation of a water measuring or metering device to determine the quantity of water used;
15. (15) "Project cost" means the actual expenditure for a project less any reimbursement received by an approved applicant from cost-share programs;

16. (16) “Transferee” means a person or corporate entity who:

    1. (A) Receives some or all of an approved applicant’s tax credit; and
    2. (B) Is named as the successor to the credit through a certified statement executed by the approved applicant; and
17. (17) "USDA-NRCS" means the United States Natural Resources Conservation Service or its successor.