(a) Company responsibility.

1. (1) Participating companies are responsible for all costs associated with the training of company employees.

2. (2) A portion of the costs incurred by the company may be offset by the Arkansas Existing Workforce Training Program, subject to:

   1. (A) Funds and tax credit availability;
   2. (B) Limitations set forth in these rules; and
   3. (C) Regulations and the approval of the governing council.

(b) Payments.

1. (1) Payments will be made or tax credits will be issued after:

   1. (A) The training is completed; and
   2. (B) The final report is received at the Arkansas Economic Development Commission.
2. (2) All payments to companies, consortia, or educational institutions and all tax credits to companies by the program will be on a cost reimbursement basis, supported by auditable documentation.