The Arkansas Department of Environmental Quality issued a June 27 news release stating that the Arkansas Pollution Control and Ecology Commission (“APC&EC”) will hold a public hearing on July 31, addressing proposed revisions to APC&EC Regulation 16.109 (Regulations of State of Arkansas for Waste Reduction, Reuse or Recycling Tax Credits).
The hearing will be held at 2:00 in the Arkansas Department of Environmental Quality’s headquarters in North Little Rock, Arkansas.
Arkansas has for a number of years provided eligible facilities establishing or expanding processes that utilize recyclables a 30% tax credit on certain capital cost. Eligibility is dependent upon certain criteria such as utilization of certain percentages of solid waste and post-consumer waste.
ADEQ operated this program in conjunction with the Department of Finance and Administration. The Agency promulgated regulation 16 to implement the program.
Proposed revisions include:
• Adding a definition of qualified manufacturer of steel,
• Revising the definition of a waste reduction, reuse, or recycling equipment,
• Allowing the qualified steel manufacturer to carry forward unused tax credit amounts to subsequent years for a period of 14 years,
• Revisions to language throughout the regulation concerning the ability of the waste reduction, reuse, recycling income tax credit to qualified manufacturers of steel
• To conform to changes to state made by the Arkansas General Assembly (including Acts 692 and A62 of 2015)
• Minor revisions to include correcting typographical, grammatical, formatting and stylistic errors.
The deadline for submitting written comments on the regulation is 4:30 p.m. (CST) August 14th.
A copy of the News Release can be downloaded here.
The Between the Lines blog is made available by Mitchell, Williams, Selig, Gates & Woodyard, P.L.L.C. and the law firm publisher. The blog site is for educational purposes only, as well as to give general information and a general understanding of the law. This blog is not intended to provide specific legal advice. Use of this blog site does not create an attorney client relationship between you and Mitchell Williams or the blog site publisher. The Between the Lines blog site should not be used as a substitute for legal advice from a licensed professional attorney in your state.