Section 15-4-2014 - Supplemental tax credit(a) If the Director of the Arkansas Economic Development Commission receives an application for a tax incentive for tax credits under this subchapter that would exceed the amount of tax credits remaining to be issued in a fiscal year under § 15-4-2012, the director may request that the Secretary of the Department of Commerce and Secretary of the Department of Finance and Administration approve supplemental tax credits to be issued in excess of the amount in § 15-4-2012.(b) Supplemental tax credits under this section shall not exceed the amount in the Arkansas Supplemental Digital Product and Motion Picture Industry Development Trust Fund as certified by the Secretary of the Department of Finance and Administration.(c)(1) The Secretary of the Department of Commerce and the Secretary of the Department of Finance and Administration may jointly approve supplemental tax credits under this section if a cost-benefit analysis demonstrates that the issuance of the supplemental tax credits is in the prudent interests of the state.(2) The cost-benefit analysis conducted under subdivision (c)(1) of this section shall be: (A) Performed by the Director of the Arkansas Economic Development Commission or his or her designee; and(B) Confirmed by the Secretary of the Department of Finance and Administration or his or her designee.(d) Supplemental tax credits issued under this section shall be considered tax credits for the purposes of §§ 15-4-1212 and 15-4-1213.Amended by Act 2023, No. 204,§ 10, eff. 8/1/2023.Added by Act 2021, No. 797,§ 11, eff. 7/28/2021.