§ 26-51-2406. The projected rehabilitation or development expenditures

AR Code § 26-51-2406 (2018) (N/A)
Copy with citation
Copy as parenthetical citation

(a) The projected qualified rehabilitation or development expenditures must occur during a period not to exceed eighteen (18) months.

(b) For the rehabilitation or development of an existing structure, the projected qualified rehabilitation or development expenditures must equal or exceed the adjusted basis of the existing structure, excluding the land, before the qualified rehabilitation or development work begins.