Arkansas § 15-4-3612 - Reports.
Full text of Arkansas Arkansas Code of 1987 Annotated § 15-4-3612 — Reports., with citation guidance and answers to common questions.
§ 15-4-3612. Reports.
A qualified community development entity that issues a qualified equity investment under this subchapter shall submit a report to the Arkansas Economic Development Commission within five (5) business days after the first anniversary of the initial credit allowance date. The report required under subdivision (a)(1) of this section shall provide evidence: That at least eighty-five percent (85%) of the cash purchase price for each qualified equity investment was used to make qualified low-income community investments in qualified active low-income community businesses located in Arkansas; Of each qualified low-income community investment by providing a bank statement for the qualified community development entity that includes the qualified low-income community investment; and That each business was a qualified low-income community business at the time the qualified low-income community investment was made and shall state the name, location, and industry code of each qualified low-income community business receiving a qualified low-income community investment. After submitting the report required under subsection (a) of this section, a qualified community development entity shall submit an annual report to the commission within five (5) business days after each anniversary of the credit allowance date. The report required under subdivision (b)(1) of this section shall: Be submitted to the commission in electronic form and as a hard copy; and Include without limitation the following: The number of employment positions created and retained as the result of each qualified low-income community investment; The average annual salary of the positions described in subdivision (b)(2)(B)(i) of this section; Any other information required by the commission; and Any other information submitted by the qualified community development entity to demonstrate the effectiveness of the qualified low-income community investment. A qualified community development entity shall not include in a report required under this section a qualified low-income community investment that has been redeemed or repaid.
Frequently Asked Questions About Arkansas § 15-4-3612
What does Arkansas Code of 1987 Annotated § 15-4-3612 cover?
Section 15-4-3612 ("Reports.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 15-4-3612?
A common citation format is "Arkansas Code of 1987 Annotated § 15-4-3612" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 15-4-3612 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.