Title 15 — Natural Resources and Economic Development

(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.

The opportunity to apply for a tax incentive provided by this subchapter expires on June 30, 2032.

(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…

(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…

(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…

(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…

(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…

(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 …

(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…

(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.…

(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…

(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…

A.C.A. § 15-4-215Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved

A.C.A. § 15-4-218Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved

(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…

(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, §…

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

(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…

(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…

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…

(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 …

(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…

(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…

(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 …

(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:…

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…

(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…

(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 …

(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…

(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…

(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…

(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…

(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 …

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.

(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…

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

(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…

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

(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, …

(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 …

(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…

(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…

(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…

(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…

(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…