Arkansas Waterways Investment Tax Credit Rule

Pursuant to Act 881 of 2023, the Department of Finance and Administration is mandated to promulgate rules to administer the Waterways Investment Income Tax Credit. Under Act 881, an income tax credit is allowed against the Arkansas income tax due from a taxpayer for eligible costs incurred by a taxpayer to make capital improvements to a waterway facility or property related to water transportation in Arkansas. The proposed rule: • Adds necessary definitions; • Provides clarification on the procedure a taxpayer shall follow to apply for the income tax credit; • Provides clarification on the issuance of a cost-benefit analysis by the Department of Commerce; and • Provides clarification on the procedure the Department shall follow to issue the tax credit.

A public hearing was held on this rule on December 17, 2024. The public comment period expired on December 24, 2024. The agency indicated that it received no public comments.

• Rule packet: E.3.a DOC DWS Unemployment Insurance Contributions and Employers
• ALC summary agenda May 21, 2025
• ALC agenda May 21, 2025
• ALC meeting video May 21, 2025
• Arkansas Register, September 2025