(a) Except as provided in subsection (b) of this section, the incentives established by this subchapter may be combined.

(b)

(1) The investment tax credit authorized in § 15-4-2706(c) may not be combined with the sales and use tax refund authorized in § 15-4-2706(d) for the same project.

(2) The job creation tax credits authorized in § 15-4-2709, the sales and use tax refund authorized in § 15-4-2706(e), and the research and development tax credit authorized in § 15-4-2708(c) may be combined with each other but may not be combined with any other incentives authorized in this subchapter during the period in which the business qualifies for benefits under § 15-4-2709.

(3) The job creation tax credit authorized in § 15-4-2705 may not be combined with the investment tax credit authorized in § 15-4-2706(b).

(4) The job creation tax credit authorized in § 15-4-2705 may not be combined with the payroll rebate program authorized in § 15-4-2707.

(5) The investment tax credit authorized in § 15-4-2706(b) may not be combined with the sales and use tax refund authorized in § 15-4-2706(d) for the same project.

(c) The following are discretionary incentives and are not available unless offered by the Arkansas Economic Development Commission:

(1) The payroll rebate program authorized in § 15-4-2707;

(2) The job creation tax credit authorized in § 15-4-2709;

(3) The investment tax credit authorized in § 15-4-2706(b);

(4) The sales and use tax refund authorized in § 15-4-2706(e); and

(5) The research and development tax credit authorized in § 15-4-2708(c).