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Arkansas Statutes, Title 15

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Arkansas/Statutes

← All Arkansas coverage

Title 15, Natural Resources and Economic Development

42 chapters · 1,615 sections in this title.

All chapters in Title 151,615 Ch 4, Development of Business and Industry…321 Ch 5, Arkansas Development Finance Authority173 Ch 22, Water Resources170 Ch 20, General Provisions145 Ch 72, Oil and Gas Production and Conservation102 Ch 11, Publicity And Tourism70 Ch 3, Development of Science, Technology, …64 Ch 58, Arkansas Surface Coal Mining and Rec…46 Ch 75, Liquefied Petroleum Gases45 Ch 23, Rivers and Creeks40 Ch 32, Logging39 Ch 57, Mining and Reclamation Generally38 Ch 74, Measurement, Inspection, And Sale Of…35 Ch 21, Land32

1,615 sections·Filtered byTitle 15✕

Ark. Code Ann. § 15-4-2011 Sunset
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The opportunity to apply for a tax incentive provided by this subchapter expires on June 30, 2032.
Ark. Code Ann. § 15-4-2012 Tax credit
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(a) (1) After receiving both an application for a tax incentive for a tax credit under this subchapter and a proof of performance expenditure report from the Film Office, the Revenue Division of the Department of Finance and Administration shall:(A) Calculate the total expenditur…
Ark. Code Ann. § 15-4-2013 Transfer of tax credit
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(a) (1) An owner of a tax credit under this subchapter may transfer, sell, or assign some or all of the amount of the tax credit certified under § 15-4-2012.(2) A subsequent holder of some or all the amount of the tax credit may transfer, sell, or assign some or all of the remain…
Ark. Code Ann. § 15-4-2014 Supplemental tax credit
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(a) If the Director of the Arkansas Economic Development Commission receives an application for a tax incentive for tax credits under this subchapter that would exceed the amount of tax credits remaining to be issued in a fiscal year under § 15-4-2012, the director may request th…

Showing 151–200 of 1,615

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Ark. Code Ann. § 15-4-202 Arkansas Economic Development Council — Members

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(a) (1) The Arkansas Economic Development Council shall consist of sixteen (16) members, who shall be qualified electors of this state, to be appointed by the Governor with the advice and consent of the Senate.(2) (A) At least three (3) members shall be appointed from each of the…

Ark. Code Ann. § 15-4-203 Arkansas Economic Development Council — Organization and meetings

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(a) (1) The Arkansas Economic Development Council shall select a chair and vice chair annually from its membership.(2) The Director of the Arkansas Economic Development Commission shall be ex officio Secretary of the Arkansas Economic Development Council but shall have no vote on…

Ark. Code Ann. § 15-4-204 Arkansas Economic Development Council — Functions, powers, and duties

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(a) The Arkansas Economic Development Council may serve in an advisory capacity to the Director of the Arkansas Economic Development Commission, the Governor, and the General Assembly. (b) A primary function of the council is to approve the issuance of guaranties of amortization …

Ark. Code Ann. § 15-4-205 Arkansas Economic Development Commission — Status and purpose

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(a) The Arkansas Economic Development Commission is the state agency responsible for implementing programs and policies aimed at improving the state's economic condition. (b) The purposes of the commission are to:(1) Serve as the primary governmental source for carrying out the G…

Ark. Code Ann. § 15-4-206 Arkansas Economic Development Commission — Director

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(a) (1) The Director of the Arkansas Economic Development Commission shall be appointed by the Governor subject to confirmation by the Senate.(2) The director shall serve at the pleasure of the Governor.(3) The director shall report to the Secretary of the Department of Commerce.…

Ark. Code Ann. § 15-4-209 Arkansas Economic Development Commission — Functions, powers, and duties

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(a) In accordance with state and federal law, the Arkansas Economic Development Commission shall:(1) Administer grants, loans, cooperative agreements, tax credits, guaranties, and other incentives, memoranda of understanding, and conveyances to assist with economic development in…

Ark. Code Ann. § 15-4-210 Arkansas Economic Development Commission — Foreign operation — Reports

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(a) The Arkansas Economic Development Commission may engage the services of contract employees to promote the development of:(1) Foreign direct investment in the state;(2) Increased trade with foreign countries; and(3) Improved relations with countries with which the state curren…

Ark. Code Ann. § 15-4-219 Annual report

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(1) The Arkansas Economic Development Commission shall present a report annually on the commission's work during the previous calendar year in these areas of concern:(1) An accounting of:(A) Each project that was offered incentives in the previous calendar year, including without…

Ark. Code Ann. § 15-4-220 Audit of economic incentive programs

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(a) In order to provide information to the General Assembly regarding the benefits of certain economic incentive programs, Arkansas Legislative Audit shall prepare annually a cost-benefit analysis of the projects provided incentives under the Consolidated Incentive Act of 2003, §…

Ark. Code Ann. § 15-4-2301 Title

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This subchapter may be referred to and cited as the “Arkansas Public Roads Improvements Credit Act”.

Ark. Code Ann. § 15-4-2302 Legislative intent

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(1) The General Assembly finds and declares that:(1) The state's program for capital improvements for public roads projects and the financing of those projects is inadequate;(2) The economic and other benefits to the state and its people resulting from capital improvements for pu…

Ark. Code Ann. § 15-4-2303 Definitions

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(1) As used in this subchapter:(1) “Capital improvements” means capital improvements for public roads;(2) “Commission” means the Arkansas Economic Development Commission;(3) “Contribution” means a contribution in aid of construction of a public roads project made by a taxpayer to…

Ark. Code Ann. § 15-4-2304 Approval of projects

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Governing authorities may apply to the Director of the Arkansas Economic Development Commission for funding assistance for capital improvement projects for public roads as provided by this subchapter. The director is authorized to approve capital improvements for funding assistan…

Ark. Code Ann. § 15-4-2305 Public Roads Incentive Fund

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(a) 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 “Public Roads Incentive Fund” of the Arkansas Economic Development Council. (b) The fund shall consist of contributions made …

Ark. Code Ann. § 15-4-2306 Tax credit

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(a) A taxpayer shall be entitled to a credit against any Arkansas income tax liability which may be imposed on the taxpayer for any tax year commencing on or after January 1, 1999, for contributions transmitted to the Treasurer of State pursuant to this subchapter. (b) The credit…

Ark. Code Ann. § 15-4-2307 Powers and duties of Arkansas Economic Development Commission

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(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…

Ark. Code Ann. § 15-4-2401 Definitions

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(1) As used in this subchapter:(1) “Invested” includes, but is not limited to, expenditures made from the proceeds of bonds, including interim notes or other evidence of indebtedness, issued by a municipality, county, or an agency or instrumentality of a municipality, county, or …

Ark. Code Ann. § 15-4-2402 Certification required

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(1) To claim the benefits of this subchapter, a taxpayer must obtain a certification prior to December 31, 2006, from the Director of the Arkansas Economic Development Commission certifying to the Revenue Division of the Department of Finance and Administration that the taxpayer:…

Ark. Code Ann. § 15-4-2403 Exemption from taxes

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Sales of natural gas and electricity to taxpayers qualified to receive the benefits of this subchapter for use in connection with the steel mill shall be exempt from the gross receipts tax levied by the Arkansas Gross Receipts Act of 1941, § 26-52-101 et seq., the Arkansas Compen…

Ark. Code Ann. § 15-4-2404 Net operating loss deduction — Carry forward

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(a) Taxpayers qualified for the benefits of this subchapter and entitled to a net operating loss deduction as provided in § 26-51-427 may carry forward that deduction to the next-succeeding taxable year following the year of the net operating loss and annually thereafter for a to…

Ark. Code Ann. § 15-4-2405 Extension of recycling tax credit — Postconsumer waste

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(a) (1) A qualified manufacturer of steel which has been certified by the Director of the Arkansas Economic Development Commission after January 1, 2001, and prior to December 31, 2006, as qualifying for the benefits of this subchapter and has qualified for the income tax credit …

Ark. Code Ann. § 15-4-2406 Refund of recycling tax credit

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(a) (1) In the case of a qualified manufacturer of steel as described in § 15-4-2405(a), the provisions of § 26-51-506(f) shall not apply.(2) However, the qualified manufacturer of steel shall refund the amount of the tax credit provided by subsection (b) of this section if withi…

Ark. Code Ann. § 15-4-2407 Apportionment of credit amount

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(1) In the case of a qualified manufacturer of steel as described in § 15-4-2405(a) which is:(1) A proprietorship, partnership, or other business organization treated as a proprietorship or partnership for tax purposes, the amount of the credit determined under this subchapter fo…

Ark. Code Ann. § 15-4-2501 Definitions

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(1) As used in this subchapter:(1) “Commission” means the Arkansas Economic Development Commission;(2) “Community lender” means any organization that is involved in making loans to small businesses within this state;(3) “Council” means the Arkansas Economic Development Council;(4…

Ark. Code Ann. § 15-4-2502 Fifty-percent loan subsidy program

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(a) The Arkansas Economic Development Commission shall institute a program to make participation loans that are originated by approved community lenders for small businesses in this state. (b) The commission's participating share of any qualified loan shall not exceed fifty perce…

Ark. Code Ann. § 15-4-2503 Lender application — Approval

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(a) Any community lender that desires to seek participating loans from the Arkansas Economic Development Commission pursuant to the program authorized by this subchapter shall make application to the commission. (b) Approval of any participating community lender shall be done by …

Ark. Code Ann. § 15-4-2504 Supporting documents

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Each community lender requesting a participating loan shall submit to the Arkansas Economic Development Commission an application, supporting documents, and instruments as may be required by the rules promulgated by the commission.

Ark. Code Ann. § 15-4-2505 Duty to seek collaboration

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(1) The Arkansas Economic Development Commission shall:(1) Actively seek support from and collaboration with statewide financial institutions, the Arkansas Credit Union League, United States Small Business Administration, Arkansas Bankers Association, Arkansas Development Finance…

Ark. Code Ann. § 15-4-2506 Rules

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The Arkansas Economic Development Commission shall promulgate rules to implement this subchapter.

Ark. Code Ann. § 15-4-2701 Legislative intent

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(a) The General Assembly recognizes that job creation and capital investment in Arkansas are dependent upon being competitive with other states for business locations and expansions. (b) Acts 2001, No. 757, authorized the Bureau of Legislative Research to conduct a study of busin…

Ark. Code Ann. § 15-4-2702 Title

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This subchapter shall be known and may be cited as the “Consolidated Incentive Act of 2003”.

Ark. Code Ann. § 15-4-2703 Definitions

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(1) As used in this subchapter:(1) “Applied research” means any activity that applies the findings of basic research or other existing knowledge toward discovering new scientific knowledge that has specific commercial objectives with respect to new products, services, processes, …

Ark. Code Ann. § 15-4-2704 Tier system

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(a) The Arkansas Economic Development Commission shall establish a tier system that shall rank all seventy-five (75) counties of this state into four (4) divisions on the basis of economic prosperity. (b) Tier 4 shall be the least prosperous division and tier 1 shall be the most …

Ark. Code Ann. § 15-4-2705 Job-creation tax credit

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(a) There is established a job-creation tax credit to encourage:(1) The creation of new jobs; and(2) Business growth and expansion. (1) The creation of new jobs; and (2) Business growth and expansion. (b) An application for the income tax credit under this section shall be submit…

Ark. Code Ann. § 15-4-2706 Investment tax incentives. [Effective for tax years beginning on or after January 1, 2026.]

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(a) There are established investment tax incentives to:(1) Encourage capital investment for the long-term viability of businesses in the state; and(2) Create new jobs. (1) Encourage capital investment for the long-term viability of businesses in the state; and (2) Create new jobs…

Ark. Code Ann. § 15-4-2707 Economic Development Incentive Fund — Payroll rebate

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(a) 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. (b) The fund shall consist of revenues…

Ark. Code Ann. § 15-4-2708 Research and development tax credits

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(a) (1) (A) Eligible businesses that have not previously been approved for incentives under this subsection and that conduct in-house research that has been approved for federal research and development tax credits may qualify, at the discretion of the Director of the Arkansas Ec…

Ark. Code Ann. § 15-4-2709 Targeted business special incentive

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(a) A special incentive based on the payroll of targeted businesses in the state may be offered, at the discretion of the Director of the Arkansas Economic Development Commission, to:(1) Encourage the development of jobs that pay significantly more than the average hourly wage in…

Ark. Code Ann. § 15-4-2710 Powers and duties of Arkansas Economic Development Commission

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(1) The Arkansas Economic Development Commission shall administer this subchapter and in addition to powers and duties mentioned in other laws may:(1) Promulgate rules in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq., necessary to carry out the pr…

Ark. Code Ann. § 15-4-2711 Administration. [Effective for tax years beginning on or after January 1, 2026.]

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(a) A person claiming an incentive under this subchapter is a “taxpayer” within the meaning of § 26-18-104 and is subject to all applicable provisions of § 26-18-104. (b) Administration of § 15-4-2706(c) shall be under the Arkansas Tax Procedure Act, § 26-18-101 et seq., and the …

Ark. Code Ann. § 15-4-2712 Restrictions. [Effective for tax years beginning on or after January 1, 2026.]

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(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) shall not be combined with the sales and use tax refund authorized in § 15-4-2706(d) for the sam…

Ark. Code Ann. § 15-4-2801 Title

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This subchapter shall be known and may be cited as the “Biodiesel Incentive Act”.

Ark. Code Ann. § 15-4-2802 Definitions

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(1) As used in this subchapter:(1) “Biodiesel fuel” means a diesel fuel substitute produced from nonpetroleum renewable resources that meets the registration requirements for fuels and fuel additives established under the Energy Policy Act of 1992, 42 U.S.C. §§ 13211—13219, as in…

Ark. Code Ann. § 15-4-2803 Tax credit for biodiesel suppliers

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(a) There shall be allowed a credit against the income tax imposed by the Income Tax Act of 1929, § 26-51-101 et seq., in an amount as determined in subsection (b) of this section to a biodiesel supplier for the cost of the facilities and equipment used directly in the wholesale …

Ark. Code Ann. § 15-4-3001 Title

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This subchapter may be referred to and cited as the “Arkansas General Obligation Economic Development Superprojects Bond and Project Funding Act”.

Ark. Code Ann. § 15-4-3002 Legislative findings

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(1) The General Assembly finds that:(1) Independent studies have confirmed that the State of Arkansas and its people have not been able to participate in and enjoy the economic development benefits to be gained from the location in Arkansas of a superproject, as have many other s…