- (a) Prior to claiming any tax credits under this program, a taxpayer must obtain a certificate of tax credit approval from the Director of the Arkansas Natural Resources Commission certifying to the Department of Finance and Administration that the taxpayer has complied with the procedure contained in 26 CAR § 261-201 et seq.
- (b) An approved applicant shall not receive a tax credit for costs that are reimbursed from cost share or other programs.
- (c) Any tax credit or percentage of a tax credit issued to an approved applicant that is a partnership, a limited liability company taxed as a partnership, a Subchapter S corporation, or a fiduciary shall be passed through to the partners, members, or owners, respectively, on a pro rata basis or pursuant to an executed agreement between or among the partners, members, or owners documenting an alternative method for the distribution of the credit.