{"data":{"id":"us-ar/ark.-code-ann.-26-51-1503","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 26-51-1503","heading":"Definitions","body":"As used in this subchapter: (1) \"Application\" means a written plan for development and operation of the project, including all requirements the Arkansas Natural Resources Commission may adopt by rule; (2) \"Commission\" means the Arkansas Natural Resources Commission; (3) [Repealed.] (4) \"Division\" means the Revenue Division of the Department of Finance and Administration; (5) (A) \"Eligible donee\" means a qualified organization under 26 U.S.C. § 170(h)(3) , as in effect on January 1, 2009, and corresponding regulations in 26 C.F.R. § 1.170A-14(c) , as in effect on January 1, 2009. (B) A nongovernmental qualified organization must have adopted the Land Trust Alliance Land Trust Standards and Practices, as in effect on January 1, 2009, in order to qualify as an \"eligible donee\"; (6) \"Eligible donor\" means any person or entity that owns a qualified real property interest, including without limitation an individual, corporation, trust, estate, and partnership or other pass-through legal entity; (7) \"Project\" means wetlands or riparian zones created or restored by activities for which tax credits are claimed; (8) \"Project cost\" means the actual expenditure for a project, less any reimbursement received by the taxpayer from cost-share programs; (9) \"Qualified appraisal\" means an appraisal in accordance with 26 C.F.R. § 1.170A-13(c)(3) , as in effect on January 1, 2009, and the Uniform Standards of Professional Appraisal Practice, as in effect on January 1, 2009; (10) \"Qualified conservation purpose\" means a conservation purpose as defined by 26 U.S.C. § 170(h)(4) , as in effect on January 1, 2009, and corresponding regulations in 26 C.F.R. § 1.170A-14(d) , as in effect on January 1, 2009; (11) \"Qualified real property interest\" means an interest in real property located completely in this state and containing wetlands or riparian zones, which also meets the definition of a qualified real property interest under 26 U.S.C. § 170(h)(2) , as in effect on January 1, 2009, and the corresponding regulations in 26 C.F.R. § 1.170A-14(b) , as in effect on January 1, 2009; (12) \"Riparian zone\" means: (A) An area of land along the bank of a natural watercourse or contiguous to a body of water that is set aside to reduce impacts of adjoining land use on the stream or water body; or (B) Any other definition promulgated by the Arkansas Natural Resources Commission; and (13) \"Wetlands\" means: (A) An area that: (i) Has water at or near the surface of the ground at some time during the growing season, wetland hydrology; (ii) Contains plants that are adapted to wet habitats, hydrophytic vegetation; and (iii) Is made up of soils that have developed under wet conditions, hydric soils; or (B) Any other definition promulgated by the Arkansas Natural Resources Commission. Amended by Act 2023, No. 691,§ 210, eff. 7/1/2023. Amended by Act 2021, No. 483,§ 12, eff. 7/28/2021. Amended by Act 2019, No. 910,§ 3261, eff. 7/1/2019. Acts 1995, No. 561, § 3; 1999, No. 1164, § 189; 2009, No. 351, §§ 3, 4.\n\nAs used in this subchapter:\n\n(1) \"Application\" means a written plan for development and operation of the project, including all requirements the Arkansas Natural Resources Commission may adopt by rule;\n\n(2) \"Commission\" means the Arkansas Natural Resources Commission;\n\n(3) [Repealed.]\n\n(4) \"Division\" means the Revenue Division of the Department of Finance and Administration;\n09, No. 351, §§ 3, 4.\n\nAs used in this subchapter:\n\n(1) \"Application\" means a written plan for development and operation of the project, including all requirements the Arkansas Natural Resources Commission may adopt by rule;\n\n(2) \"Commission\" means the Arkansas Natural Resources Commission;\n\n(3) [Repealed.]\n\n(4) \"Division\" means the Revenue Division of the Department of Finance and Administration;\n\n(5) (A) \"Eligible donee\" means a qualified organization under 26 U.S.C. § 170(h)(3) , as in effect on January 1, 2009, and corresponding regulations in 26 C.F.R. § 1.170A-14(c) , as in effect on January 1, 2009. (B) A nongovernmental qualified organization must have adopted the Land Trust Alliance Land Trust Standards and Practices, as in effect on January 1, 2009, in order to qualify as an \"eligible donee\";\n\n(A) \"Eligible donee\" means a qualified organization under 26 U.S.C. § 170(h)(3) , as in effect on January 1, 2009, and corresponding regulations in 26 C.F.R. § 1.170A-14(c) , as in effect on January 1, 2009.\n\n(B) A nongovernmental qualified organization must have adopted the Land Trust Alliance Land Trust Standards and Practices, as in effect on January 1, 2009, in order to qualify as an \"eligible donee\";\n\n(6) \"Eligible donor\" means any person or entity that owns a qualified real property interest, including without limitation an individual, corporation, trust, estate, and partnership or other pass-through legal entity;\n\n(7) \"Project\" means wetlands or riparian zones created or restored by activities for which tax credits are claimed;\n\n(8) \"Project cost\" means the actual expenditure for a project, less any reimbursement received by the taxpayer from cost-share programs;\n\n(9) \"Qualified appraisal\" means an appraisal in accordance with 26 C.F.R. § 1.170A-13(c)(3) , as in effect on January 1, 2009, and the Uniform Standards of Professional Appraisal Practice, as in effect on January 1, 2009;\n\n(10) \"Qualified conservation purpose\" means a conservation purpose as defined by 26 U.S.C. § 170(h)(4) , as in effect on January 1, 2009, and corresponding regulations in 26 C.F.R. § 1.170A-14(d) , as in effect on January 1, 2009;\n\n(11) \"Qualified real property interest\" means an interest in real property located completely in this state and containing wetlands or riparian zones, which also meets the definition of a qualified real property interest under 26 U.S.C. § 170(h)(2) , as in effect on January 1, 2009, and the corresponding regulations in 26 C.F.R. § 1.170A-14(b) , as in effect on January 1, 2009;\n\n(12) \"Riparian zone\" means: (A) An area of land along the bank of a natural watercourse or contiguous to a body of water that is set aside to reduce impacts of adjoining land use on the stream or water body; or (B) Any other definition promulgated by the Arkansas Natural Resources Commission; and\n\n(A) An area of land along the bank of a natural watercourse or contiguous to a body of water that is set aside to reduce impacts of adjoining land use on the stream or water body; or\n\n(B) Any other definition promulgated by the Arkansas Natural Resources Commission; and\n\n(13) \"Wetlands\" means: (A) An area that: (i) Has water at or near the surface of the ground at some time during the growing season, wetland hydrology; (ii) Contains plants that are adapted to wet habitats, hydrophytic vegetation; and (iii) Is made up of soils that have developed under wet conditions, hydric soils; or (B) Any other definition promulgated by the Arkansas Natural Resources Commission.\n\n(A) An area that: (i) Has water at or near the surface of the ground at some time during the growing season, wetland hydrology; (ii) Contains plants that are adapted to wet habitats, hydrophytic vegetation; and (iii) Is made up of soils that have developed under wet conditions, hydric soils; or\nns, hydric soils; or (B) Any other definition promulgated by the Arkansas Natural Resources Commission.\n\n(A) An area that: (i) Has water at or near the surface of the ground at some time during the growing season, wetland hydrology; (ii) Contains plants that are adapted to wet habitats, hydrophytic vegetation; and (iii) Is made up of soils that have developed under wet conditions, hydric soils; or\n\n(i) Has water at or near the surface of the ground at some time during the growing season, wetland hydrology;\n\n(ii) Contains plants that are adapted to wet habitats, hydrophytic vegetation; and\n\n(iii) Is made up of soils that have developed under wet conditions, hydric soils; or\n\n(B) Any other definition promulgated by the Arkansas Natural Resources Commission.","path":["AR Code","Title 26","Chapter 51","Subchapter 15"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"3ef791d05b7aea8e4cf41ab8ce885e626bba24e79c21daef5be71cef7f62159a","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-26-51-1502","next":"us-ar/ark.-code-ann.-26-51-1504"},"notice":"GroundRules: Original legal text. Not legal advice."}