HAR § 18-235-110.7-03 — Property eligible for the credit

The determination of whether property is eligible for the credit must be made with respect to the first taxable year in which the property is placed in service by the taxpayer. Property which is eligible for the credit is (1) new section 38 property (as defined in section 18-235-110.7- 05), or (2) used section 38 property (as defined in section 18-235-110.7-06).