(a)

1. (1) Taxpayers must submit an application for tax credit certification no later than ninety (90) days following the calendar year in which waste reduction, reuse, or recycling equipment was purchased, final equipment expenditures are made, or project startup occurs, whichever is later.
2. (2) Final equipment expenditures for purposes of this section include installation costs, construction progress payments, and payments of retainage, but do not include finance lease payments, financing payments, or installment payments following purchase according to an installment payment plan.
3. (3) For equipment bought or leased on installment, the date of the last expenditure shall be the date of the last purchase, not the last installment payment.
4. (4) Expenditures made for routine maintenance or repairs shall not be considered equipment expenditures.

(c) Complete applications shall contain the following:

1. (1) A completed application form;

2. (2) Invoices detailing each expenditure which include:

   1. (A) The seller’s name;
   2. (B) The cost of each item claimed as waste reduction, reuse, or recycling equipment; and
   3. (C) The date on which such equipment was purchased;
3. (3) The cost of installation;

4. (4)

   1. (A) A narrative describing the project or equipment purpose.
   2. (B) The narrative must also contain a list of suppliers and approximate percentage of recovered materials and postconsumer waste, and products collected, separated, processed, modified, converted, treated, or manufactured;
5. (5) An acknowledgment that, to the best of the taxpayer’s knowledge, a good faith effort is being made to utilize postconsumer waste generated in Arkansas as at least ten percent (10%) of the postconsumer waste being used in such equipment, to the extent available at a competitive price; and

6. (6)

   1. (A) The signature of the taxpayer claiming the credit.
   2. (B) The taxpayer’s signature shall be by:

(i) An officer if a corporation;

1. (ii) A partner or authorized manager if a partnership;

   1. (iii) A member or manager if a limited liability company;

      1. (iv) A proprietor if a sole proprietorship; or
      2. (v) The individual applicant if the taxpayer is an individual.
      3. (d) The division may require the taxpayer to report the serial number for each piece of such equipment, or in the absence of a serial number, the division may require the taxpayer to assign a number to the equipment and permanently affix it thereto when applicable.