(1) "Director" means the Director of the Arkansas Economic Development Commission;
(2) "Eligible business" means any person engaged in a business classified as manufacturing of paper and allied products in Standard Industrial Classification Code 2600 that has been in continuous operation in Arkansas for at least two (2) years prior to the initial application to the director for income tax credits under the provision of this subchapter;
(3) "Modernization" means to increase efficiency or to increase productivity of the business through investment in machinery or equipment, or both, and shall not include costs for routine maintenance;
(4) "Person" means a person as defined by § 26-18-104;
(5) "Project" means any construction, expansion, or modernization in Arkansas by an eligible business whose investment shall exceed one hundred million dollars ($100,000,000) between August 13, 2001, and December 31, 2004, for projects involving either single or multiple locations within the State of Arkansas, including the cost of the land, buildings, and equipment used in the construction, expansion, or modernization and which construction, expansion, or modernization has been approved by the Arkansas Economic Development Commission as a construction, expansion, or modernization project that qualifies for the credit under the provisions of this subchapter; and
(6) "Routine maintenance" means the replacement of existing machinery parts with like parts.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.