Registration of tax credits

(a) The Arkansas Development Finance Authority, in conjunction with the Revenue Division of the Department of Finance and Administration, shall develop a system for registration of all tax credits claimed under this subchapter. (b) The system shall verify that any: (1) Tax credit claimed upon a tax return is valid and properly taken in the year of claim; and (2) Transfer of the tax credit is made in accordance with the requirements of this subchapter. Acts 2001, No. 1791, § 7. (a) The Arkansas Development Finance Authority, in conjunction with the Revenue Division of the Department of Finance and Administration, shall develop a system for registration of all tax credits claimed under this subchapter. (b) The system shall verify that any: (1) Tax credit claimed upon a tax return is valid and properly taken in the year of claim; and (2) Transfer of the tax credit is made in accordance with the requirements of this subchapter. (1) Tax credit claimed upon a tax return is valid and properly taken in the year of claim; and (2) Transfer of the tax credit is made in accordance with the requirements of this subchapter. Acts 2001, No. 1791, § 7.