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20-80-405. Applications for donations.

Arkansas Code — all titles (historical 2020) · legal_authorities

20-80-405. Applications for donations.

20-80-405. Applications for donations. (a)(1) Applications for donation may be made by the following persons or community organizations: (A) Agents of cities and incorporated towns that also have one (1) of the community organizations listed in subdivisions (a)(1)(B)(i)-(iv) of this section; or (B) The chair of the board or executive director of one (1) of the following community organizations: (i) A housing authority; (ii) A community development agency; (iii) A community development corporation; or (iv) A local initiative support corporation. (2) Other community organizations may apply for donation of the land so long as that organization is a nonprofit corporation that qualifies as an Internal Revenue Service section 501(c)(3) tax-exempt organization. (3) A legal entity that intends to apply for an award of federal low-income housing tax credits under section 42 of the Internal Revenue Code may apply for donation of land under this subchapter only if the legal entity is a qualified nonprofit organization pursuant to section 42 of the Internal Revenue Code and accompanying regulations and guidance of the Internal Revenue Service. (b) Any applicant must have legal authority to accept and convey title to properties for homesteading purposes.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 20-80-405

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.

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Record provenance

Stable record: arkansas_code:legal_authorities:20-80-405
Source file: gov.ar.code.title.20.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 0478171cad924fae180a9b49d2ddea019e3756446c3ad169641d13f5e92afab9

Source location: content.xml paragraph 40682

Stored source content

20-80-405. Applications for donations. (a)(1) Applications for donation may be made by the following persons or community organizations: (A) Agents of cities and incorporated towns that also have one (1) of the community organizations listed in subdivisions (a)(1)(B)(i)-(iv) of this section; or (B) The chair of the board or executive director of one (1) of the following community organizations: (i) A housing authority; (ii) A community development agency; (iii) A community development corporation; or (iv) A local initiative support corporation. (2) Other community organizations may apply for donation of the land so long as that organization is a nonprofit corporation that qualifies as an Internal Revenue Service section 501(c)(3) tax-exempt organization. (3) A legal entity that intends to apply for an award of federal low-income housing tax credits under section 42 of the Internal Revenue Code may apply for donation of land under this subchapter only if the legal entity is a qualified nonprofit organization pursuant to section 42 of the Internal Revenue Code and accompanying regulations and guidance of the Internal Revenue Service. (b) Any applicant must have legal authority to accept and convey title to properties for homesteading purposes.

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