Title 15, Natural Resources and Economic Development

There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Inventors' Assistance Program Fund”. This fund shall consist of all moneys received by the Center for Prototype Development and …

This subchapter may be referred to and cited as the “Arkansas Economic Development Incentive Act of 1993”.

(1) As used in this subchapter:(1) “Annual payroll” means the wages of the net new full-time permanent employees based on the payroll for the previous twelve (12) months reported to the Division of Workforce Services and is computed by using the total of the net new full-time per…

There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Economic Development Incentive Fund” of the Arkansas Economic Development Commission. The fund shall consist of revenues designa…

(1) The Arkansas Economic Development Commission shall administer the provisions of this subchapter and shall have the following powers and duties in addition to those mentioned in this subchapter and in other laws of this state:(1) To promulgate rules in accordance with the Arka…

(1) To qualify for the benefits of this subchapter, the entity applying must:(1) Be classified as one (1) or more of the following types of businesses:(A) Manufacturers classified in Standard Industrial Classification codes 20-39, including semiconductor and microelectronic manuf…

(1) The following limitations shall apply to all financial incentive plans negotiated by the Arkansas Economic Development Commission:(1) (A) The term of a financial incentive plan shall not exceed one hundred twenty-six (126) months.(B) (i) For defense industry projects, as defi…

After the Department of Finance and Administration has received the certification of the number of employees and their payroll from a business that has entered into a financial incentive plan with the Arkansas Economic Development Commission, the department shall transfer the app…

(a) The Department of Finance and Administration shall have the authority to obtain whatever information necessary from participating businesses and from the Division of Workforce Services to verify that businesses which have entered into financial incentive plans with the Arkans…

Receiving benefits pursuant to this subchapter will preclude a business from participating in the incentive program of the Arkansas Economic Development Act of 1995, § 15-4-1901 et seq.

This subchapter may be referred to and cited as the “Arkansas Enterprise Zone Act of 1993”.

(1) As used in this subchapter:(1) (A) “Average hourly wage” means the average wage of the net new full-time permanent employees based on payroll for the most recent quarter reported to the Division of Workforce Services.(B) “Average hourly wage” is computed by using the total of…

(1) The Arkansas Economic Development Commission shall administer the provisions of this subchapter and shall have the following powers and duties, in addition to those mentioned in this subchapter and in other laws of this state:(1) To monitor the implementation and operation of…

(a) (1) The Revenue Division of the Department of Finance and Administration shall authorize a refund of sales and use taxes imposed by the state and a municipality or county if the municipality or county authorized the refund of its local tax on the purchases of the material use…

(a) (1) No person or entity may file for benefits under this subchapter if an application for benefits has been filed and approved under the Economic Investment Tax Credit Act, § 26-52-701 et seq. [repealed], for the same project.(2) However, an application for benefits under the…

(a) A county that does not qualify as a high-unemployment county, as defined in § 15-4-1702, but has experienced a sudden and severe period of economic distress caused by the closing of a business entity that results in the loss of a minimum of five hundred (500) full-time perman…

This subchapter shall be known as the “Major Industry Facilities Incentive Act”.

(1) As used in this subchapter:(1) “Bonds” means revenue bonds or general obligation bonds;(2) “Eligible facility” means any facility owned by any state agency or political subdivision and any facility financed through the issuance of bonds by any state agency or political subdiv…

Any state agency or political subdivision that has acquired or constructed or which desires to acquire or construct or which has financed or which desires to finance through the issuance of its bonds an eligible facility may apply to the State Board of Finance for state assistanc…

(a) All applications for state assistance under this subchapter shall be in writing and shall describe:(1) The eligible facility;(2) The financing thereof;(3) The estimated number of people to be employed at the eligible facility;(4) The estimated additional state income tax reve…

(a) After reviewing the application and upon reasonable notice to the applicant, the State Board of Finance shall hold a public hearing on the application. (b) (1) The board shall give notice of the time, place, and purpose of the public hearing by publication one (1) time in a n…

(a) After consideration of the application and conclusion of the hearing, the State Board of Finance shall determine whether the facility described in the application is an eligible facility. (b) If the board determines that the facility described in the application is an eligibl…

(a) If the application is approved, the State Board of Finance shall fix the amount of state assistance to the state agency or political subdivision to repay its investment or for paying debt service on the bonds issued to finance, in whole or in part, the eligible facility, if r…

(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “Major Industry Facilities Incentive Fund”. (b) The Treasurer of State shall monthly, before making the percentage distributions …

(a) Payments of state assistance to state agencies and political subdivisions under this subchapter shall be made by remitting them directly to the trustee for the holders of the bonds issued to finance the eligible facility. (b) The trustee shall apply the state assistance money…

Any state agency or political subdivision entering into an agreement pursuant to this subchapter may provide for suspension, in whole or in part, of the collection of any tax voted for payment of its general obligation bonds issued in accordance with an agreement under this subch…

(a) Nothing in this subchapter shall be construed as authorizing the pledging of the faith and credit of the state or any of its revenues, either for the performance of the obligations of the state under the agreements authorized by this subchapter or for the payment of bonds iss…

This subchapter may be referred to and cited as the “Arkansas Economic Development Act of 1995”.

(1) As used in this subchapter:(1) (A) “Average hourly wage” means the average wage of the net new full-time permanent employees based on payroll for the most recent quarter reported to the Division of Workforce Services.(B) “Average hourly wage” is computed by using the total of…

(1) The Arkansas Economic Development Commission shall administer the provisions of this subchapter and shall have the following powers and duties in addition to those mentioned in this subchapter and in other laws of this state:(1) To promulgate rules in accordance with the Arka…

(1) To qualify for the benefits of this subchapter, the business must:(1) Be an eligible business as defined in § 15-4-1902;(2) Hire at least one hundred (100) net new full-time permanent employees within twenty-four (24) months of the date the financial incentive plan was signed…

(1) The financial incentive plan shall:(1) Specify the tax incentives the business is to receive, including the maximum amount of income tax credit the business may claim for each tax year covered by the financial incentive plan;(2) (A) Specify the term of the financial incentive…

(a) (1) The Revenue Division of the Department of Finance and Administration shall authorize a refund of sales and use taxes imposed by the state and a municipality or county if the municipality or county authorized the refund of its local tax on the purchases of the material use…

(a) The Department of Finance and Administration shall have the authority to obtain whatever information necessary from the participating businesses and from the Division of Workforce Services to verify that businesses which have entered into financial incentive plans with the Ar…

Receiving benefits for a project pursuant to this subchapter will preclude a business from receiving benefits under any other tax incentive program for that same project.

This subchapter may be referred to and cited as the “Digital Product and Motion Picture Industry Development Act of 2009”.

(1) It is the intent of the General Assembly to assist in cultivating the film industry by:(1) Providing the citizens of Arkansas with the education, training, and financial tools to succeed in today's global economy. The economic landscape of the state and the nation has moved f…

(1) As used in this subchapter:(1) “Application for a tax incentive” means the document required by the Film Office to begin the process for obtaining a tax incentive under this subchapter;(2) (A) “Below-the-line employees” means employees involved with the production of a motion…

(a) A production company that plans to operate within the borders of Arkansas shall register with the Film Office before beginning operations. (b) (1) Upon registration and signing a financial incentive agreement, the production company shall include the name of Arkansas in the c…

(a) (1) The Director of the Arkansas Economic Development Commission may offer to a production company that has submitted an approved application for a tax incentive under § 15-4-2007 a tax incentive of twenty-five percent (25%) on all qualified production costs in connection wit…

(a) (1) The Director of the Arkansas Economic Development Commission shall offer a tax credit or a rebate of twenty-five percent (25%) to a qualifying production company that has submitted an approved application for a tax incentive under § 15-4-2007 for a tax incentive on all qu…

(a) (1) To apply for the tax incentives provided under this subchapter, a production company shall submit an application for a tax incentive and provide an estimate of total expenditures to be made in Arkansas in connection with the production.(2) The application for a tax incent…

(a) The Revenue Division of the Department of Finance and Administration shall upon receipt of an application for a tax incentive for a rebate, including a proof of performance expenditure report from the Film Office:(1) Calculate the total expenditures of the relevant production…

(a) A production company that intends to apply for a tax incentive under this subchapter and does not register as required by § 15-4-2004 may be enjoined from engaging in production activities in the state by any court of competent jurisdiction until the production company has re…

There is created and established at the seat of government of this state a council to be known as the “Arkansas Economic Development Council”.

The Arkansas Economic Development Commission shall promulgate appropriate rules to carry out the intent and purposes of this subchapter and to prevent abuse.