Ark. Code Ann. § 15-4-2008: Disbursement of rebate

(a) The Revenue Division of the Department of Finance and Administration shall upon receipt of an application for a tax incentive for a rebate, including a proof of performance expenditure report from the Film Office: (1) Calculate the total expenditures of the relevant production company for which there are documented receipts for funds expended in the state; (2) Calculate the incentive benefit to which the applicant is entitled, subject to any conditions of the approved financial incentive agreement; and (3) Provide certification to the Secretary of the Department of Finance and Administration specifying the amount to be remitted to the production company within one hundred twenty (120) days after the final expenditure report has been submitted. (b) The secretary, within ten (10) working days after the receipt of the certification from the division, shall remit the rebate to: (1) The production company; or (2) At the option of the production company, the full amount or a specified amount noted by the production company to the: (A) National Film Preservation Foundation; (B) Motion Picture & Television Fund; or (C) Digital Product and Motion Picture Office Fund. (c) (1) The amount of the rebate is limited to the amount specified in the approved financial incentive agreement. (2) The rebate shall be awarded on a first-come, first-served basis. (3) Rebates to be awarded from the Digital Product and Motion Picture Office Fund may be payable from any source of funds allocated for the rebates. Amended by Act 2023, No. 204,§ 7, eff. 8/1/2023. Amended by Act 2021, No. 797,§ 8, eff. 7/28/2021. Amended by Act 2021, No. 474,§ 3, eff. 7/28/2021. Amended by Act 2019, No. 367,§ 9, eff. 7/24/2019. Amended by Act 2019, No. 367,§ 8, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 3399, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 3398, eff. 7/1/2019. Amended by Act 2013, No. 496,§ 7, eff. 8/16/2013. Acts 1997, No. 919, § 7; 2009, No. 816, § 1.

(a) The Revenue Division of the Department of Finance and Administration shall upon receipt of an application for a tax incentive for a rebate, including a proof of performance expenditure report from the Film Office: (1) Calculate the total expenditures of the relevant production company for which there are documented receipts for funds expended in the state; (2) Calculate the incentive benefit to which the applicant is entitled, subject to any conditions of the approved financial incentive agreement; and (3) Provide certification to the Secretary of the Department of Finance and Administration specifying the amount to be remitted to the production company within one hundred twenty (120) days after the final expenditure report has been submitted.

(1) Calculate the total expenditures of the relevant production company for which there are documented receipts for funds expended in the state;

(2) Calculate the incentive benefit to which the applicant is entitled, subject to any conditions of the approved financial incentive agreement; and

(3) Provide certification to the Secretary of the Department of Finance and Administration specifying the amount to be remitted to the production company within one hundred twenty (120) days after the final expenditure report has been submitted.

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(2) Calculate the incentive benefit to which the applicant is entitled, subject to any conditions of the approved financial incentive agreement; and

(3) Provide certification to the Secretary of the Department of Finance and Administration specifying the amount to be remitted to the production company within one hundred twenty (120) days after the final expenditure report has been submitted.

(b) The secretary, within ten (10) working days after the receipt of the certification from the division, shall remit the rebate to: (1) The production company; or (2) At the option of the production company, the full amount or a specified amount noted by the production company to the: (A) National Film Preservation Foundation; (B) Motion Picture & Television Fund; or (C) Digital Product and Motion Picture Office Fund.

(1) The production company; or

(2) At the option of the production company, the full amount or a specified amount noted by the production company to the: (A) National Film Preservation Foundation; (B) Motion Picture & Television Fund; or (C) Digital Product and Motion Picture Office Fund.

(A) National Film Preservation Foundation;

(B) Motion Picture & Television Fund; or

(C) Digital Product and Motion Picture Office Fund.

(c) (1) The amount of the rebate is limited to the amount specified in the approved financial incentive agreement. (2) The rebate shall be awarded on a first-come, first-served basis. (3) Rebates to be awarded from the Digital Product and Motion Picture Office Fund may be payable from any source of funds allocated for the rebates.

(1) The amount of the rebate is limited to the amount specified in the approved financial incentive agreement.

(2) The rebate shall be awarded on a first-come, first-served basis.

(3) Rebates to be awarded from the Digital Product and Motion Picture Office Fund may be payable from any source of funds allocated for the rebates.