(a)
(1) This subchapter takes effect only if the Chief Fiscal Officer of the State certifies that sufficient funding for this subchapter is available in the General Improvement Fund.
(2) If the Chief Fiscal Officer of the State certifies that sufficient funding for this subchapter is available in the fund, this subchapter is effective for tax years beginning on and after January 1 of the year following the certification and continues for a period of two (2) years.
(3) If the Chief Fiscal Officer of the State certifies that sufficient funding for this subchapter is available in the fund, he or she shall notify the Arkansas Code Revision Commission of the effective date of this subchapter.
(b) An unused investment tax credit under this subchapter that is earned before the end of the period stated in subsection (a) of this section may be carried forward on an income tax return for up to five (5) years after the year in which the investment tax credit was first earned or until exhausted, whichever event occurs first.
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