(a)
(1) A qualified manufacturer of steel which has been certified by the Executive Director of the Arkansas Economic Development Commission after January 1, 2001, and prior to December 31, 2006, as qualifying for the benefits of this subchapter and has qualified for the income tax credit for the purchase of waste reduction, reuse, or recycling equipment provided by § 26-51-506, may carry forward any unused income tax credit earned under § 26-51-506 for a period of fourteen (14) consecutive years following the taxable year in which the credit originated.
(2) Income tax credits which would otherwise expire during that period shall first be used.
(b) In the case of a qualified manufacturer of steel as described in subsection (a) of this section:
(1) The term "waste reduction, reuse, or recycling equipment" as defined in § 26-51-506 shall include production, processing, and testing equipment used to manufacture products containing recovered materials; and
(2)
(A) The provisions of § 26-51-506(d)(4) shall not apply.
(B) However, the qualified manufacturer of steel shall make a good faith effort to use recovered materials containing Arkansas post-consumer waste as a part of the materials used.
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