Ark. Code Ann. § 15-20-1309 — AR Code / Title 15 / Chapter 20 / Subchapter 13 / Section 15-20-1309
Proceeds of bonds
Status: in_force

(a) The proceeds from the sale of the bonds, together with all revenues derived by the Arkansas Natural Resources Commission from any project financed or refinanced under this subchapter and appropriated, allocated, or otherwise set aside by the commission for the payment of the bonds and from any other project and appropriated, allocated, or otherwise set aside by the commission for the payment of the bonds, shall be deposited by the recipient thereof, as received, into trust funds either established in the State Treasury, or into accounts established outside the State Treasury in the name of the commission, to accomplish the purposes of this subchapter, in amounts or portions as set forth in the resolution or trust indenture authorizing or securing the bonds issued to finance or refinance the development of projects. (b) (1) There is established as a trust fund in the State Treasury an account designated as the "Water, Waste Disposal, and Pollution Abatement Facilities Financing Act of 2007 Bond Fund" that is being created to provide for payment of all or a part of the debt service in connection with bonds issued under this subchapter. (2) (A) The Treasurer of State shall establish separate accounts and subaccounts within the fund to correspond to the applicable series of bonds. (B) In addition, there may be created in the State Treasury such other funds, accounts, or subaccounts as the commission may determine to be necessary to accomplish the purposes of this subchapter. (c) (1) All procedures and methods for the application of proceeds of any series of bonds to the financing or refinancing of project costs shall be set forth in writing. (2) The writings shall be maintained as a part of the records of the commission. (3) The procedures and methods may include without limitation: (A) Development of projects to be owned, operated, and maintained by the commission; (B) Grants to local entities and the commission; (C) Loans to local entities or persons or the purchase of bonds or other general or special obligation debt of local entities; (D) Development of projects to be leased to or operated by local entities; (E) Development of projects to be purchased at one (1) time or by installment purchase by local entities; (F) Establishment of funds, including revolving funds for the lending of money to persons to be repaid into the funds for the development of projects; (G) Matching of proceeds of bonds with moneys provided by local entity or other persons; (H) Matching of moneys provided pursuant to other laws, including § 15-22-501 et seq.; the Arkansas Water Resources Cost Share Finance Act, § 15-22-801 et seq.; The Water, Sewer, and Solid Waste Management Systems Finance Act of 1975, § 14-230-101 et seq.; and § 15-22-1101 et seq.; and (I) Establishment of funds to refund or refinance bonds issued under this subchapter, bonds issued under the prior act, and the bonds or other debt of local entities that were incurred for the purpose of paying project costs. (d) Any arrangements undertaken pursuant to subsection (c) of this section whereby a local entity will administer funds composed, in whole or in part, of proceeds of bonds shall include provision for the auditing no less than annually of the funds. (e) The proceeds from the sale of the bonds, together with all revenues derived by the commission from any project financed or refinanced under this subchapter or from any other project, that are appropriated, allocated, or otherwise set aside by the commission for the payment of the bonds, may be invested and reinvested by the State Investing Office in any of the following: (1) Direct obligations of the United States, including obligations issued or held in book-entry form on the books of the United States Department of the Treasury or obligations that are unconditionally guaranteed as to principal and interest by the United States; (2) Bonds, debentures, notes, or other evidences of indebtedness issued or guaranteed by any agencies of the United States Government that are backed by the full faith and credit of the United States; (3) Senior debt obligations issued or guaranteed by agencies of the United States Government that are non-full faith and credit agencies; (4) Money market funds investing exclusively in the investments described in subdivision (e)(1), subdivision (e)(2), or subdivision (e)(3) of this section; (5) Certificates of deposit providing for deposits secured at all times by collateral described in subdivision (e)(1), subdivision (e)(2), or subdivision (e)(3) of this section if: (A) The certificates of deposit are issued by commercial banks whose deposits are insured by the Federal Deposit Insurance Corporation and whose collateral is held by a third party; and (B) The State Investing Office or its assigns have a perfected first security interest in the collateral; (6) Certificates of deposit, savings accounts, deposit accounts, or money market deposits, all of which are fully insured by the Federal Deposit Insurance Corporation; (7) Bonds or notes issued by the state or any municipality, county, school district, community college district, or regional solid waste management district in the state or any agency or instrumentality of the state; (8) Investment agreements with financial institutions or insurance companies that are rated in one (1) of the two (2) highest rating categories of a nationally recognized rating agency; (9) Repurchase agreements providing for the transfer of securities from a dealer bank or securities firm to the State Investing Office and the transfer of cash from the State Investing Office to the dealer bank or securities firm with an agreement that the dealer bank or securities firm will repay the cash plus a yield to the State Investing Office in exchange for the securities at a specified date if the repurchase agreements satisfy the following criteria: (A) Repurchase agreements must be between the State Investing Office and a dealer bank or securities firm described as follows: (i) Dealers with at least one hundred million dollars ($100,000,000) in capital; or (ii) Banks whose deposits are insured by the Federal Deposit Insurance Corporation; and (B) The written repurchase agreement contract must include the following: (i) Securities that are acceptable for transfer are those listed in subdivision (e)(1), subdivision (e)(2), or subdivision (e)(3) of this section; (ii) The term of the repurchase agreement may be up to thirty (30) days; (iii) The collateral must be delivered to the State Investing Office, the trustee if the trustee is not supplying the collateral, or to a third party acting as agent for the trustee if the trustee is supplying the collateral, before or at the time of the payment and perfection by possession of certificated securities; and (iv) (a) The securities must be valued weekly, marked-to-market at current market price plus accrued interest. (b) The value of collateral must be equal to one hundred three percent (103%) of the amount of cash transferred by the State Investing Office to the dealer bank or security firm under the repurchase agreement plus accrued interest. (c) If the value of securities held as collateral declines below one hundred three percent (103%) of the value of the cash transferred by the State Investing Office, then additional cash, acceptable securities, or a combination of cash and securities must be transferred and held by the State Investing Office; and (10) Any other investment authorized by state law. Acts 2007, No. 631, § 1.

(a) The proceeds from the sale of the bonds, together with all revenues derived by the Arkansas Natural Resources Commission from any project financed or refinanced under this subchapter and appropriated, allocated, or otherwise set aside by the commission for the payment of the bonds and from any other project and appropriated, allocated, or otherwise set aside by the commission for the payment of the bonds, shall be deposited by the recipient thereof, as received, into trust funds either established in the State Treasury, or into accounts established outside the State Treasury in the name of the commission, to accomplish the purposes of this subchapter, in amounts or portions as set forth in the resolution or trust indenture authorizing or securing the bonds issued to finance or refinance the development of projects.

(b) (1) There is established as a trust fund in the State Treasury an account designated as the "Water, Waste Disposal, and Pollution Abatement Facilities Financing Act of 2007 Bond Fund" that is being created to provide for payment of all or a part of the debt service in connection with bonds issued under this subchapter. (2) (A) The Treasurer of State shall establish separate accounts and subaccounts within the fund to correspond to the applicable series of bonds. (B) In addition, there may be created in the State Treasury such other funds, accounts, or subaccounts as the commission may determine to be necessary to accomplish the purposes of this subchapter.

(1) There is established as a trust fund in the State Treasury an account designated as the "Water, Waste Disposal, and Pollution Abatement Facilities Financing Act of 2007 Bond Fund" that is being created to provide for payment of all or a part of the debt service in connection with bonds issued under this subchapter.

(2) (A) The Treasurer of State shall establish separate accounts and subaccounts within the fund to correspond to the applicable series of bonds. (B) In addition, there may be created in the State Treasury such other funds, accounts, or subaccounts as the commission may determine to be necessary to accomplish the purposes of this subchapter.

(A) The Treasurer of State shall establish separate accounts and subaccounts within the fund to correspond to the applicable series of bonds.

(B) In addition, there may be created in the State Treasury such other funds, accounts, or subaccounts as the commission may determine to be necessary to accomplish the purposes of this subchapter.

(c) (1) All procedures and methods for the application of proceeds of any series of bonds to the financing or refinancing of project costs shall be set forth in writing. (2) The writings shall be maintained as a part of the records of the commission. (3) The procedures and methods may include without limitation: (A) Development of projects to be owned, operated, and maintained by the commission; (B) Grants to local entities and the commission; (C) Loans to local entities or persons or the purchase of bonds or other general or special obligation debt of local entities; (D) Development of projects to be leased to or operated by local entities; (E) Development of projects to be purchased at one (1) time or by installment purchase by local entities; (F) Establishment of funds, including revolving funds for the lending of money to persons to be repaid into the funds for the development of projects; (G) Matching of proceeds of bonds with moneys provided by local entity or other persons; (H) Matching of moneys provided pursuant to other laws, including § 15-22-501 et seq.; the Arkansas Water Resources Cost Share Finance Act, § 15-22-801 et seq.; The Water, Sewer, and Solid Waste Management Systems Finance Act of 1975, § 14-230-101 et seq.; and § 15-22-1101 et seq.; and (I) Establishment of funds to refund or refinance bonds issued under this subchapter, bonds issued under the prior act, and the bonds or other debt of local entities that were incurred for the purpose of paying project costs.

(1) All procedures and methods for the application of proceeds of any series of bonds to the financing or refinancing of project costs shall be set forth in writing.

(2) The writings shall be maintained as a part of the records of the commission.

(3) The procedures and methods may include without limitation: (A) Development of projects to be owned, operated, and maintained by the commission; (B) Grants to local entities and the commission; (C) Loans to local entities or persons or the purchase of bonds or other general or special obligation debt of local entities; (D) Development of projects to be leased to or operated by local entities; (E) Development of projects to be purchased at one (1) time or by installment purchase by local entities; (F) Establishment of funds, including revolving funds for the lending of money to persons to be repaid into the funds for the development of projects; (G) Matching of proceeds of bonds with moneys provided by local entity or other persons; (H) Matching of moneys provided pursuant to other laws, including § 15-22-501 et seq.; the Arkansas Water Resources Cost Share Finance Act, § 15-22-801 et seq.; The Water, Sewer, and Solid Waste Management Systems Finance Act of 1975, § 14-230-101 et seq.; and § 15-22-1101 et seq.; and (I) Establishment of funds to refund or refinance bonds issued under this subchapter, bonds issued under the prior act, and the bonds or other debt of local entities that were incurred for the purpose of paying project costs.

(A) Development of projects to be owned, operated, and maintained by the commission;

(B) Grants to local entities and the commission;

(C) Loans to local entities or persons or the purchase of bonds or other general or special obligation debt of local entities;

(D) Development of projects to be leased to or operated by local entities;

(E) Development of projects to be purchased at one (1) time or by installment purchase by local entities;

(F) Establishment of funds, including revolving funds for the lending of money to persons to be repaid into the funds for the development of projects;

(G) Matching of proceeds of bonds with moneys provided by local entity or other persons;

(H) Matching of moneys provided pursuant to other laws, including § 15-22-501 et seq.; the Arkansas Water Resources Cost Share Finance Act, § 15-22-801 et seq.; The Water, Sewer, and Solid Waste Management Systems Finance Act of 1975, § 14-230-101 et seq.; and § 15-22-1101 et seq.; and

(I) Establishment of funds to refund or refinance bonds issued under this subchapter, bonds issued under the prior act, and the bonds or other debt of local entities that were incurred for the purpose of paying project costs.

(d) Any arrangements undertaken pursuant to subsection (c) of this section whereby a local entity will administer funds composed, in whole or in part, of proceeds of bonds shall include provision for the auditing no less than annually of the funds.

(e) The proceeds from the sale of the bonds, together with all revenues derived by the commission from any project financed or refinanced under this subchapter or from any other project, that are appropriated, allocated, or otherwise set aside by the commission for the payment of the bonds, may be invested and reinvested by the State Investing Office in any of the following: (1) Direct obligations of the United States, including obligations issued or held in book-entry form on the books of the United States Department of the Treasury or obligations that are unconditionally guaranteed as to principal and interest by the United States; (2) Bonds, debentures, notes, or other evidences of indebtedness issued or guaranteed by any agencies of the United States Government that are backed by the full faith and credit of the United States; (3) Senior debt obligations issued or guaranteed by agencies of the United States Government that are non-full faith and credit agencies; (4) Money market funds investing exclusively in the investments described in subdivision (e)(1), subdivision (e)(2), or subdivision (e)(3) of this section; (5) Certificates of deposit providing for deposits secured at all times by collateral described in subdivision (e)(1), subdivision (e)(2), or subdivision (e)(3) of this section if: (A) The certificates of deposit are issued by commercial banks whose deposits are insured by the Federal Deposit Insurance Corporation and whose collateral is held by a third party; and (B) The State Investing Office or its assigns have a perfected first security interest in the collateral; (6) Certificates of deposit, savings accounts, deposit accounts, or money market deposits, all of which are fully insured by the Federal Deposit Insurance Corporation; (7) Bonds or notes issued by the state or any municipality, county, school district, community college district, or regional solid waste management district in the state or any agency or instrumentality of the state; (8) Investment agreements with financial institutions or insurance companies that are rated in one (1) of the two (2) highest rating categories of a nationally recognized rating agency; (9) Repurchase agreements providing for the transfer of securities from a dealer bank or securities firm to the State Investing Office and the transfer of cash from the State Investing Office to the dealer bank or securities firm with an agreement that the dealer bank or securities firm will repay the cash plus a yield to the State Investing Office in exchange for the securities at a specified date if the repurchase agreements satisfy the following criteria: (A) Repurchase agreements must be between the State Investing Office and a dealer bank or securities firm described as follows: (i) Dealers with at least one hundred million dollars ($100,000,000) in capital; or (ii) Banks whose deposits are insured by the Federal Deposit Insurance Corporation; and (B) The written repurchase agreement contract must include the following: (i) Securities that are acceptable for transfer are those listed in subdivision (e)(1), subdivision (e)(2), or subdivision (e)(3) of this section; (ii) The term of the repurchase agreement may be up to thirty (30) days; (iii) The collateral must be delivered to the State Investing Office, the trustee if the trustee is not supplying the collateral, or to a third party acting as agent for the trustee if the trustee is supplying the collateral, before or at the time of the payment and perfection by possession of certificated securities; and (iv) (a) The securities must be valued weekly, marked-to-market at current market price plus accrued interest. (b) The value of collateral must be equal to one hundred three percent (103%) of the amount of cash transferred by the State Investing Office to the dealer bank or security firm under the repurchase agreement plus accrued interest. (c) If the value of securities held as collateral declines below one hundred three percent (103%) of the value of the cash transferred by the State Investing Office, then additional cash, acceptable securities, or a combination of cash and securities must be transferred and held by the State Investing Office; and (10) Any other investment authorized by state law.

(1) Direct obligations of the United States, including obligations issued or held in book-entry form on the books of the United States Department of the Treasury or obligations that are unconditionally guaranteed as to principal and interest by the United States;

(2) Bonds, debentures, notes, or other evidences of indebtedness issued or guaranteed by any agencies of the United States Government that are backed by the full faith and credit of the United States;

(3) Senior debt obligations issued or guaranteed by agencies of the United States Government that are non-full faith and credit agencies;

(4) Money market funds investing exclusively in the investments described in subdivision (e)(1), subdivision (e)(2), or subdivision (e)(3) of this section;

(5) Certificates of deposit providing for deposits secured at all times by collateral described in subdivision (e)(1), subdivision (e)(2), or subdivision (e)(3) of this section if: (A) The certificates of deposit are issued by commercial banks whose deposits are insured by the Federal Deposit Insurance Corporation and whose collateral is held by a third party; and (B) The State Investing Office or its assigns have a perfected first security interest in the collateral;

(A) The certificates of deposit are issued by commercial banks whose deposits are insured by the Federal Deposit Insurance Corporation and whose collateral is held by a third party; and

(B) The State Investing Office or its assigns have a perfected first security interest in the collateral;

(6) Certificates of deposit, savings accounts, deposit accounts, or money market deposits, all of which are fully insured by the Federal Deposit Insurance Corporation;

(7) Bonds or notes issued by the state or any municipality, county, school district, community college district, or regional solid waste management district in the state or any agency or instrumentality of the state;

(8) Investment agreements with financial institutions or insurance companies that are rated in one (1) of the two (2) highest rating categories of a nationally recognized rating agency;

(9) Repurchase agreements providing for the transfer of securities from a dealer bank or securities firm to the State Investing Office and the transfer of cash from the State Investing Office to the dealer bank or securities firm with an agreement that the dealer bank or securities firm will repay the cash plus a yield to the State Investing Office in exchange for the securities at a specified date if the repurchase agreements satisfy the following criteria: (A) Repurchase agreements must be between the State Investing Office and a dealer bank or securities firm described as follows: (i) Dealers with at least one hundred million dollars ($100,000,000) in capital; or (ii) Banks whose deposits are insured by the Federal Deposit Insurance Corporation; and (B) The written repurchase agreement contract must include the following: (i) Securities that are acceptable for transfer are those listed in subdivision (e)(1), subdivision (e)(2), or subdivision (e)(3) of this section; (ii) The term of the repurchase agreement may be up to thirty (30) days; (iii) The collateral must be delivered to the State Investing Office, the trustee if the trustee is not supplying the collateral, or to a third party acting as agent for the trustee if the trustee is supplying the collateral, before or at the time of the payment and perfection by possession of certificated securities; and (iv) (a) The securities must be valued weekly, marked-to-market at current market price plus accrued interest. (b) The value of collateral must be equal to one hundred three percent (103%) of the amount of cash transferred by the State Investing Office to the dealer bank or security firm under the repurchase agreement plus accrued interest. (c) If the value of securities held as collateral declines below one hundred three percent (103%) of the value of the cash transferred by the State Investing Office, then additional cash, acceptable securities, or a combination of cash and securities must be transferred and held by the State Investing Office; and

(A) Repurchase agreements must be between the State Investing Office and a dealer bank or securities firm described as follows: (i) Dealers with at least one hundred million dollars ($100,000,000) in capital; or (ii) Banks whose deposits are insured by the Federal Deposit Insurance Corporation; and

(i) Dealers with at least one hundred million dollars ($100,000,000) in capital; or

(ii) Banks whose deposits are insured by the Federal Deposit Insurance Corporation; and

(B) The written repurchase agreement contract must include the following: (i) Securities that are acceptable for transfer are those listed in subdivision (e)(1), subdivision (e)(2), or subdivision (e)(3) of this section; (ii) The term of the repurchase agreement may be up to thirty (30) days; (iii) The collateral must be delivered to the State Investing Office, the trustee if the trustee is not supplying the collateral, or to a third party acting as agent for the trustee if the trustee is supplying the collateral, before or at the time of the payment and perfection by possession of certificated securities; and (iv) (a) The securities must be valued weekly, marked-to-market at current market price plus accrued interest. (b) The value of collateral must be equal to one hundred three percent (103%) of the amount of cash transferred by the State Investing Office to the dealer bank or security firm under the repurchase agreement plus accrued interest. (c) If the value of securities held as collateral declines below one hundred three percent (103%) of the value of the cash transferred by the State Investing Office, then additional cash, acceptable securities, or a combination of cash and securities must be transferred and held by the State Investing Office; and

(i) Securities that are acceptable for transfer are those listed in subdivision (e)(1), subdivision (e)(2), or subdivision (e)(3) of this section;

(ii) The term of the repurchase agreement may be up to thirty (30) days;

(iii) The collateral must be delivered to the State Investing Office, the trustee if the trustee is not supplying the collateral, or to a third party acting as agent for the trustee if the trustee is supplying the collateral, before or at the time of the payment and perfection by possession of certificated securities; and

(iv) (a) The securities must be valued weekly, marked-to-market at current market price plus accrued interest. (b) The value of collateral must be equal to one hundred three percent (103%) of the amount of cash transferred by the State Investing Office to the dealer bank or security firm under the repurchase agreement plus accrued interest. (c) If the value of securities held as collateral declines below one hundred three percent (103%) of the value of the cash transferred by the State Investing Office, then additional cash, acceptable securities, or a combination of cash and securities must be transferred and held by the State Investing Office; and

(a) The securities must be valued weekly, marked-to-market at current market price plus accrued interest.

(b) The value of collateral must be equal to one hundred three percent (103%) of the amount of cash transferred by the State Investing Office to the dealer bank or security firm under the repurchase agreement plus accrued interest.

(c) If the value of securities held as collateral declines below one hundred three percent (103%) of the value of the cash transferred by the State Investing Office, then additional cash, acceptable securities, or a combination of cash and securities must be transferred and held by the State Investing Office; and

(10) Any other investment authorized by state law.

Acts 2007, No. 631, § 1.
Ark. Code Ann. § 15-4-3612 — AR Code / Title 15 / Chapter 4 / Subchapter 36 / Section 15-4-3612
Reports
Status: in_force

(a) (1) A qualified community development entity that issues a qualified equity investment under this subchapter shall submit a report to the Arkansas Economic Development Commission within five (5) business days after the first anniversary of the initial credit allowance date. (2) The report required under subdivision (a)(1) of this section shall provide evidence: (A) That at least eighty-five percent (85%) of the cash purchase price for each qualified equity investment was used to make qualified low-income community investments in qualified active low-income community businesses located in Arkansas; (B) Of each qualified low-income community investment by providing a bank statement for the qualified community development entity that includes the qualified low-income community investment; and (C) That each business was a qualified low-income community business at the time the qualified low-income community investment was made and shall state the name, location, and industry code of each qualified low-income community business receiving a qualified low-income community investment. (b) (1) After submitting the report required under subsection (a) of this section, a qualified community development entity shall submit an annual report to the commission within five (5) business days after each anniversary of the credit allowance date. (2) The report required under subdivision (b)(1) of this section shall: (A) Be submitted to the commission in electronic form and as a hard copy; and (B) Include without limitation the following: (i) The number of employment positions created and retained as the result of each qualified low-income community investment; (ii) The average annual salary of the positions described in subdivision (b)(2)(B)(i) of this section; (iii) Any other information required by the commission; and (iv) Any other information submitted by the qualified community development entity to demonstrate the effectiveness of the qualified low-income community investment. (c) A qualified community development entity shall not include in a report required under this section a qualified low-income community investment that has been redeemed or repaid. Added by Act 2013, No. 1474,§ 1, eff. 4/22/2013.

(a) (1) A qualified community development entity that issues a qualified equity investment under this subchapter shall submit a report to the Arkansas Economic Development Commission within five (5) business days after the first anniversary of the initial credit allowance date. (2) The report required under subdivision (a)(1) of this section shall provide evidence: (A) That at least eighty-five percent (85%) of the cash purchase price for each qualified equity investment was used to make qualified low-income community investments in qualified active low-income community businesses located in Arkansas; (B) Of each qualified low-income community investment by providing a bank statement for the qualified community development entity that includes the qualified low-income community investment; and (C) That each business was a qualified low-income community business at the time the qualified low-income community investment was made and shall state the name, location, and industry code of each qualified low-income community business receiving a qualified low-income community investment.

(1) A qualified community development entity that issues a qualified equity investment under this subchapter shall submit a report to the Arkansas Economic Development Commission within five (5) business days after the first anniversary of the initial credit allowance date.

(2) The report required under subdivision (a)(1) of this section shall provide evidence: (A) That at least eighty-five percent (85%) of the cash purchase price for each qualified equity investment was used to make qualified low-income community investments in qualified active low-income community businesses located in Arkansas; (B) Of each qualified low-income community investment by providing a bank statement for the qualified community development entity that includes the qualified low-income community investment; and (C) That each business was a qualified low-income community business at the time the qualified low-income community investment was made and shall state the name, location, and industry code of each qualified low-income community business receiving a qualified low-income community investment.

(A) That at least eighty-five percent (85%) of the cash purchase price for each qualified equity investment was used to make qualified low-income community investments in qualified active low-income community businesses located in Arkansas;

(B) Of each qualified low-income community investment by providing a bank statement for the qualified community development entity that includes the qualified low-income community investment; and

(C) That each business was a qualified low-income community business at the time the qualified low-income community investment was made and shall state the name, location, and industry code of each qualified low-income community business receiving a qualified low-income community investment.

(b) (1) After submitting the report required under subsection (a) of this section, a qualified community development entity shall submit an annual report to the commission within five (5) business days after each anniversary of the credit allowance date. (2) The report required under subdivision (b)(1) of this section shall: (A) Be submitted to the commission in electronic form and as a hard copy; and (B) Include without limitation the following: (i) The number of employment positions created and retained as the result of each qualified low-income community investment; (ii) The average annual salary of the positions described in subdivision (b)(2)(B)(i) of this section; (iii) Any other information required by the commission; and (iv) Any other information submitted by the qualified community development entity to demonstrate the effectiveness of the qualified low-income community investment.

(1) After submitting the report required under subsection (a) of this section, a qualified community development entity shall submit an annual report to the commission within five (5) business days after each anniversary of the credit allowance date.

(2) The report required under subdivision (b)(1) of this section shall: (A) Be submitted to the commission in electronic form and as a hard copy; and (B) Include without limitation the following: (i) The number of employment positions created and retained as the result of each qualified low-income community investment; (ii) The average annual salary of the positions described in subdivision (b)(2)(B)(i) of this section; (iii) Any other information required by the commission; and (iv) Any other information submitted by the qualified community development entity to demonstrate the effectiveness of the qualified low-income community investment.

(A) Be submitted to the commission in electronic form and as a hard copy; and

(B) Include without limitation the following: (i) The number of employment positions created and retained as the result of each qualified low-income community investment; (ii) The average annual salary of the positions described in subdivision (b)(2)(B)(i) of this section; (iii) Any other information required by the commission; and (iv) Any other information submitted by the qualified community development entity to demonstrate the effectiveness of the qualified low-income community investment.

(i) The number of employment positions created and retained as the result of each qualified low-income community investment;

(ii) The average annual salary of the positions described in subdivision (b)(2)(B)(i) of this section;

(iii) Any other information required by the commission; and

(iv) Any other information submitted by the qualified community development entity to demonstrate the effectiveness of the qualified low-income community investment.

(c) A qualified community development entity shall not include in a report required under this section a qualified low-income community investment that has been redeemed or repaid.

Added by Act 2013, No. 1474,§ 1, eff. 4/22/2013.
Ark. Code Ann. § 15-4-3304 — AR Code / Title 15 / Chapter 4 / Subchapter 33 / Section 15-4-3304
Application for an equity investment incentive tax credit
Status: in_force

(a) A business that seeks eligibility for an equity investment incentive tax credit under this subchapter shall file an application with the Arkansas Economic Development Commission. (b) The application shall include: (1) A business plan describing the proposed business for which an equity investment incentive tax credit is sought; (2) A projection of the amount of capital being sought for the proposed business; (3) If the application proposes to use a convertible financing structure, a clear statement concerning the timing and conditions under which the convertible financing structure converts into equity; and (4) Other information requested jointly by the Director of the Arkansas Economic Development Commission and the President of the Arkansas Development Finance Authority. (c) (1) The commission shall gather information necessary to determine the eligibility of a business that seeks an equity investment incentive tax credit and process the application. (2) The commission shall share the application and all information concerning the business with the Arkansas Development Finance Authority and the Division of Science and Technology of the Arkansas Economic Development Commission for review and concurrence on whether or not an equity investment incentive is offered to the business. (d) (1) If a business is notified of approval of an application for an equity investment incentive tax credit, the business shall sign an equity investment incentive agreement with the commission. (2) After the equity investment incentive agreement has been signed by the business and the commission, the business may solicit investors and offer the equity investment incentive tax credit to the investors. (e) For the equity investment tax credit to be awarded to an investor, the eligible business shall verify that all conditions to the award of an equity investment incentive tax credit stated in the equity investment incentive agreement have been met within the time set forth in the agreement. Amended by Act 2019, No. 910,§ 426, eff. 7/1/2019. Amended by Act 2015EX1, No. 8,§ 100, eff. 7/1/2015. Amended by Act 2015EX1, No. 7,§ 100, eff. 7/1/2015. Amended by Act 2015, No. 164,§ 2, eff. 7/22/2015. Acts 2007, No. 566, § 1; 2011, No. 829, § 2.

(a) A business that seeks eligibility for an equity investment incentive tax credit under this subchapter shall file an application with the Arkansas Economic Development Commission.

(b) The application shall include: (1) A business plan describing the proposed business for which an equity investment incentive tax credit is sought; (2) A projection of the amount of capital being sought for the proposed business; (3) If the application proposes to use a convertible financing structure, a clear statement concerning the timing and conditions under which the convertible financing structure converts into equity; and (4) Other information requested jointly by the Director of the Arkansas Economic Development Commission and the President of the Arkansas Development Finance Authority.

(1) A business plan describing the proposed business for which an equity investment incentive tax credit is sought;

(2) A projection of the amount of capital being sought for the proposed business;

(3) If the application proposes to use a convertible financing structure, a clear statement concerning the timing and conditions under which the convertible financing structure converts into equity; and

(4) Other information requested jointly by the Director of the Arkansas Economic Development Commission and the President of the Arkansas Development Finance Authority.

(c) (1) The commission shall gather information necessary to determine the eligibility of a business that seeks an equity investment incentive tax credit and process the application. (2) The commission shall share the application and all information concerning the business with the Arkansas Development Finance Authority and the Division of Science and Technology of the Arkansas Economic Development Commission for review and concurrence on whether or not an equity investment incentive is offered to the business.

(1) The commission shall gather information necessary to determine the eligibility of a business that seeks an equity investment incentive tax credit and process the application.

(2) The commission shall share the application and all information concerning the business with the Arkansas Development Finance Authority and the Division of Science and Technology of the Arkansas Economic Development Commission for review and concurrence on whether or not an equity investment incentive is offered to the business.

(d) (1) If a business is notified of approval of an application for an equity investment incentive tax credit, the business shall sign an equity investment incentive agreement with the commission. (2) After the equity investment incentive agreement has been signed by the business and the commission, the business may solicit investors and offer the equity investment incentive tax credit to the investors.

(1) If a business is notified of approval of an application for an equity investment incentive tax credit, the business shall sign an equity investment incentive agreement with the commission.

(2) After the equity investment incentive agreement has been signed by the business and the commission, the business may solicit investors and offer the equity investment incentive tax credit to the investors.

(e) For the equity investment tax credit to be awarded to an investor, the eligible business shall verify that all conditions to the award of an equity investment incentive tax credit stated in the equity investment incentive agreement have been met within the time set forth in the agreement.

Amended by Act 2019, No. 910,§ 426, eff. 7/1/2019.

Amended by Act 2015EX1, No. 8,§ 100, eff. 7/1/2015.

Amended by Act 2015EX1, No. 7,§ 100, eff. 7/1/2015.

Amended by Act 2015, No. 164,§ 2, eff. 7/22/2015.

Acts 2007, No. 566, § 1; 2011, No. 829, § 2.
Ark. Code Ann. § 15-76-323 — AR Code / Title 15 / Chapter 76 / Subchapter 3 / Section 15-76-323
Subpoena power of the commission
Status: in_force

(a) The Oil and Gas Commission is empowered to issue subpoenas for witnesses, to require their attendance in the giving of testimony before it, and to require the production of books, papers, and records in any proceeding before the commission as may be material upon questions lawfully before the commission. The subpoena shall be served by the sheriff or any other officer authorized by law to serve process in this state. No person shall be excused from attending and testifying or from producing books, papers, and records before the commission or court or from obedience to the subpoena of the commission or a court on the ground or for the reason that the testimony or evidence, documentary or otherwise, required of him or her may tend to incriminate him or her or subject him or her to a penalty or forfeiture. (b) Nothing contained in this section shall be construed as requiring any person to produce any books, papers, or records or to testify in response to any inquiry not pertinent to some question lawfully before the commission or court for determination. No natural person shall be subjected to criminal prosecution or to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which he or she may be required to testify or produce evidence, documentary or otherwise, before the commission or court, or in obedience to its subpoena. No person testifying shall be exempted from prosecution and punishment for perjury committed in so testifying. (c) In case of failure or refusal on the part of any person to comply with any subpoena issued by the commission, or in case of the refusal of any witness to testify or answer as to any matter regarding which he or she may be lawfully interrogated, any circuit court in this state, on application of the commission, may in term time or vacation issue an attachment for the person and compel him or her to comply with the subpoena and to attend before the commission and produce the documents and give his or her testimony upon matters, as may be lawfully required. The court shall have the power to punish for contempt as in case of disobedience of like subpoena issued by or from the court, or for a refusal to testify therein. Acts 1979, No. 937, § 18; A.S.A. 1947, § 53-1318.

(a) The Oil and Gas Commission is empowered to issue subpoenas for witnesses, to require their attendance in the giving of testimony before it, and to require the production of books, papers, and records in any proceeding before the commission as may be material upon questions lawfully before the commission. The subpoena shall be served by the sheriff or any other officer authorized by law to serve process in this state. No person shall be excused from attending and testifying or from producing books, papers, and records before the commission or court or from obedience to the subpoena of the commission or a court on the ground or for the reason that the testimony or evidence, documentary or otherwise, required of him or her may tend to incriminate him or her or subject him or her to a penalty or forfeiture.

(b) Nothing contained in this section shall be construed as requiring any person to produce any books, papers, or records or to testify in response to any inquiry not pertinent to some question lawfully before the commission or court for determination. No natural person shall be subjected to criminal prosecution or to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which he or she may be required to testify or produce evidence, documentary or otherwise, before the commission or court, or in obedience to its subpoena. No person testifying shall be exempted from prosecution and punishment for perjury committed in so testifying.

(c) In case of failure or refusal on the part of any person to comply with any subpoena issued by the commission, or in case of the refusal of any witness to testify or answer as to any matter regarding which he or she may be lawfully interrogated, any circuit court in this state, on application of the commission, may in term time or vacation issue an attachment for the person and compel him or her to comply with the subpoena and to attend before the commission and produce the documents and give his or her testimony upon matters, as may be lawfully required. The court shall have the power to punish for contempt as in case of disobedience of like subpoena issued by or from the court, or for a refusal to testify therein.

Acts 1979, No. 937, § 18; A.S.A. 1947, § 53-1318.
Ark. Code Ann. § 15-4-514 — AR Code / Title 15 / Chapter 4 / Subchapter 5 / Section 15-4-514
Authority to borrow money, issue bonds, etc
Status: in_force

(a) Each corporation organized under this act is authorized to borrow money and to issue negotiable coupon bonds, or notes, or other obligations for the payment thereof from corporate funds to carry out the purposes for which the corporation is organized. (b) However, no first lien bonds, notes, or other obligations shall be issued by any corporation organized under the provisions of this act for the purpose of purchasing any equipment or other personal property not used in manufacturing or processing operations. Acts 1955, No. 404, § 27; 1957, No. 47, § 5; 1968 (2nd Ex. Sess.), No. 11, § 2; A.S.A. 1947, § 9-530.

(a) Each corporation organized under this act is authorized to borrow money and to issue negotiable coupon bonds, or notes, or other obligations for the payment thereof from corporate funds to carry out the purposes for which the corporation is organized.

(b) However, no first lien bonds, notes, or other obligations shall be issued by any corporation organized under the provisions of this act for the purpose of purchasing any equipment or other personal property not used in manufacturing or processing operations.

Acts 1955, No. 404, § 27; 1957, No. 47, § 5; 1968 (2nd Ex. Sess.), No. 11, § 2; A.S.A. 1947, § 9-530.
Ark. Code Ann. § 15-46-106 — AR Code / Title 15 / Chapter 46 / Section 15-46-106
Elimination of double-crested cormorants
Status: in_force

The double-crested cormorant is hereby declared a nuisance and the Arkansas State Game and Fish Commission is requested to work with the United States Fish and Wildlife Service and the Arkansas congressional delegation to permit bona fide fish farmers and other owners of private lakes in Arkansas to eliminate depredating double-crested cormorants under such terms as may be agreed upon by the Arkansas State Game and Fish Commission and the United States Fish and Wildlife Service. Acts 1993, No. 575, § 1.

The double-crested cormorant is hereby declared a nuisance and the Arkansas State Game and Fish Commission is requested to work with the United States Fish and Wildlife Service and the Arkansas congressional delegation to permit bona fide fish farmers and other owners of private lakes in Arkansas to eliminate depredating double-crested cormorants under such terms as may be agreed upon by the Arkansas State Game and Fish Commission and the United States Fish and Wildlife Service.

Acts 1993, No. 575, § 1.
Ark. Code Ann. § 15-23-310 — AR Code / Title 15 / Chapter 23 / Subchapter 3 / Section 15-23-310
Proposed contracts and compacts with the federal government
Status: in_force

Notwithstanding any provisions of this subchapter or any other law to the contrary, the Arkansas Natural Heritage Commission shall submit proposed contracts between it and the federal government to the Legislative Council for its review and shall not enter into any such contracts without the prior review of the Legislative Council. Acts 1983, No. 840, § 39; A.S.A. 1947, § 9-1209.1; Acts 1997, No. 1023, § 7.

Notwithstanding any provisions of this subchapter or any other law to the contrary, the Arkansas Natural Heritage Commission shall submit proposed contracts between it and the federal government to the Legislative Council for its review and shall not enter into any such contracts without the prior review of the Legislative Council.

Acts 1983, No. 840, § 39; A.S.A. 1947, § 9-1209.1; Acts 1997, No. 1023, § 7.
Ark. Code Ann. § 15-20-1107 — AR Code / Title 15 / Chapter 20 / Subchapter 11 / Section 15-20-1107
Nutrient management plan
Status: in_force

(a) (1) Nutrient management plans shall be approved by the board of directors of the conservation district where a majority of the land to which the nutrient management plan applies is located. (2) The person requesting a nutrient management plan may appeal the nutrient management plan's disapproval or any of the nutrient management plan's provisions to the Arkansas Natural Resources Commission. (b) In considering the approval of a nutrient management plan, a conservation district board of directors and the commission shall consider the nutrient management plan's provision for: (1) Soil nutrient testing; (2) The level of nutrients contained in the nutrient source; (3) Nutrient application rates, including the methodology utilized in determining the rate; (4) Crops being grown, soil type, geology, hydrology, and other physical characteristics of land on which the nutrient will be applied; (5) The manner and timing of nutrient application; (6) The method for keeping application records contained in the nutrient management plan; and (7) The qualifications of the person developing the nutrient management plan. (c) If the land application of a designated nutrient within a nutrient surplus area is a part of a process regulated under the Arkansas Water and Air Pollution Control Act, § 8-4-101 et seq., or other similar federal or state law and the permit contains conditions regulating the nutrient application of the designated nutrient acceptable to the commission, then the permit shall serve as the nutrient management plan. (d) An approved nutrient management plan shall constitute a permit to apply nutrients consistent with the nutrient management plan. Amended by Act 2019, No. 910,§ 70, eff. 7/1/2019. Acts 2003, No. 1061, § 1; 2005, No. 1871, § 3.

(a) (1) Nutrient management plans shall be approved by the board of directors of the conservation district where a majority of the land to which the nutrient management plan applies is located. (2) The person requesting a nutrient management plan may appeal the nutrient management plan's disapproval or any of the nutrient management plan's provisions to the Arkansas Natural Resources Commission.

(1) Nutrient management plans shall be approved by the board of directors of the conservation district where a majority of the land to which the nutrient management plan applies is located.

(2) The person requesting a nutrient management plan may appeal the nutrient management plan's disapproval or any of the nutrient management plan's provisions to the Arkansas Natural Resources Commission.

(b) In considering the approval of a nutrient management plan, a conservation district board of directors and the commission shall consider the nutrient management plan's provision for: (1) Soil nutrient testing; (2) The level of nutrients contained in the nutrient source; (3) Nutrient application rates, including the methodology utilized in determining the rate; (4) Crops being grown, soil type, geology, hydrology, and other physical characteristics of land on which the nutrient will be applied; (5) The manner and timing of nutrient application; (6) The method for keeping application records contained in the nutrient management plan; and (7) The qualifications of the person developing the nutrient management plan.

(1) Soil nutrient testing;

(2) The level of nutrients contained in the nutrient source;

(3) Nutrient application rates, including the methodology utilized in determining the rate;

(4) Crops being grown, soil type, geology, hydrology, and other physical characteristics of land on which the nutrient will be applied;

(5) The manner and timing of nutrient application;

(6) The method for keeping application records contained in the nutrient management plan; and

(7) The qualifications of the person developing the nutrient management plan.

(c) If the land application of a designated nutrient within a nutrient surplus area is a part of a process regulated under the Arkansas Water and Air Pollution Control Act, § 8-4-101 et seq., or other similar federal or state law and the permit contains conditions regulating the nutrient application of the designated nutrient acceptable to the commission, then the permit shall serve as the nutrient management plan.

(d) An approved nutrient management plan shall constitute a permit to apply nutrients consistent with the nutrient management plan.

Amended by Act 2019, No. 910,§ 70, eff. 7/1/2019.

Acts 2003, No. 1061, § 1; 2005, No. 1871, § 3.
Ark. Code Ann. § 15-4-3023 — AR Code / Title 15 / Chapter 4 / Subchapter 30 / Section 15-4-3023
Construction
Status: in_force

This subchapter shall: (1) Be liberally construed to accomplish its purposes; (2) Constitute the sole authority necessary to accomplish its purposes; and (3) (A) Be interpreted to supplement existing laws conferring rights and powers upon the Arkansas Development Finance Authority. (B) The rights and powers under this subchapter shall be regarded as alternate methods for the accomplishment of the purposes of this subchapter. Acts 2003, No. 1751, § 23.

This subchapter shall:

(1) Be liberally construed to accomplish its purposes;

(2) Constitute the sole authority necessary to accomplish its purposes; and

(3) (A) Be interpreted to supplement existing laws conferring rights and powers upon the Arkansas Development Finance Authority. (B) The rights and powers under this subchapter shall be regarded as alternate methods for the accomplishment of the purposes of this subchapter.

(A) Be interpreted to supplement existing laws conferring rights and powers upon the Arkansas Development Finance Authority.

(B) The rights and powers under this subchapter shall be regarded as alternate methods for the accomplishment of the purposes of this subchapter.

Acts 2003, No. 1751, § 23.
Ark. Code Ann. § 15-4-3223 — AR Code / Title 15 / Chapter 4 / Subchapter 32 / Section 15-4-3223
Power and duties of the Arkansas Economic Development Commission and the Arkansas Development Finance Authority
Status: in_force

(a) In connection with their duties and powers under this subchapter, the Arkansas Economic Development Commission and the Arkansas Development Finance Authority, acting independently or jointly, shall have the following powers and duties, in addition to and not in replacement or limitation of powers conferred under other laws, to: (1) Provide loans to a sponsor for payment of project costs; (2) Develop or cause to be developed with proceeds of the Amendment 82 bonds, leases as lessee or lessor, in any manner acquire, own, hold, maintain, operate, sell, dispose of, exchange, mortgage, or lend, on behalf of the state, with respect to all or any part of any qualified Amendment 82 project; (3) In any manner acquire, own, hold, use, exercise, sell, mortgage, pledge, hypothecate, or dispose of franchises, rights, privileges, licenses, rights-of-way, and easements that are necessary, useful, or appropriate for the exercise of the powers or implementation of the purposes set forth in Arkansas Constitution, Amendment 82, and this subchapter; (4) Sell, convey, mortgage, pledge, lease as lessor, or otherwise dispose of all or any part of any qualified Amendment 82 project or other properties that it owns or leases, tangible or intangible, including, without limitation, franchises, rights, privileges, licenses, rights-of-way, and easements; (5) Have and exercise the right of eminent domain for the purpose of acquiring lands, the fee title thereto, or any easement, right-of-way, or other interest or estate therein for a qualified Amendment 82 project, the infrastructure needs, or other needs therefor or portions thereof by the procedure now provided for condemnation by railroads in § 18-15-1201 et seq.; (6) Make or accept gifts or grants of moneys, services, franchises, rights, privileges, licenses, rights-of-way, easements, or other property, real or personal or mixed; (7) Enter into any contract necessary or convenient for the exercise of the powers or implementation of the purposes set forth in Arkansas Constitution, Amendment 82, and this subchapter; (8) Fix, regulate, and collect rates, fees, rents, or other charges for the use of any properties or services furnished or delivered by the commission and the authority; (9) Require audits or other periodic reports of any or all accounts related to construction, operation, or maintenance of any infrastructure or other needs funded by Arkansas Constitution, Amendment 82, and this subchapter; (10) Take reasonable actions to ensure that debt service requirements are met; and (11) Take such other action as may be appropriate to accomplish the purpose of Arkansas Constitution, Amendment 82, and this subchapter. (b) The commission and the authority may promulgate rules with respect to their powers and duties under Arkansas Constitution, Amendment 82, and this subchapter. (c) No member, officer, director, or employee of the commission or the authority shall be liable personally for any reason arising from the issuance of bonds under Arkansas Constitution, Amendment 82, and this subchapter unless the person acted with corrupt intent. Acts 2005, No. 1981, § 1.

(a) In connection with their duties and powers under this subchapter, the Arkansas Economic Development Commission and the Arkansas Development Finance Authority, acting independently or jointly, shall have the following powers and duties, in addition to and not in replacement or limitation of powers conferred under other laws, to: (1) Provide loans to a sponsor for payment of project costs; (2) Develop or cause to be developed with proceeds of the Amendment 82 bonds, leases as lessee or lessor, in any manner acquire, own, hold, maintain, operate, sell, dispose of, exchange, mortgage, or lend, on behalf of the state, with respect to all or any part of any qualified Amendment 82 project; (3) In any manner acquire, own, hold, use, exercise, sell, mortgage, pledge, hypothecate, or dispose of franchises, rights, privileges, licenses, rights-of-way, and easements that are necessary, useful, or appropriate for the exercise of the powers or implementation of the purposes set forth in Arkansas Constitution, Amendment 82, and this subchapter; (4) Sell, convey, mortgage, pledge, lease as lessor, or otherwise dispose of all or any part of any qualified Amendment 82 project or other properties that it owns or leases, tangible or intangible, including, without limitation, franchises, rights, privileges, licenses, rights-of-way, and easements; (5) Have and exercise the right of eminent domain for the purpose of acquiring lands, the fee title thereto, or any easement, right-of-way, or other interest or estate therein for a qualified Amendment 82 project, the infrastructure needs, or other needs therefor or portions thereof by the procedure now provided for condemnation by railroads in § 18-15-1201 et seq.; (6) Make or accept gifts or grants of moneys, services, franchises, rights, privileges, licenses, rights-of-way, easements, or other property, real or personal or mixed; (7) Enter into any contract necessary or convenient for the exercise of the powers or implementation of the purposes set forth in Arkansas Constitution, Amendment 82, and this subchapter; (8) Fix, regulate, and collect rates, fees, rents, or other charges for the use of any properties or services furnished or delivered by the commission and the authority; (9) Require audits or other periodic reports of any or all accounts related to construction, operation, or maintenance of any infrastructure or other needs funded by Arkansas Constitution, Amendment 82, and this subchapter; (10) Take reasonable actions to ensure that debt service requirements are met; and (11) Take such other action as may be appropriate to accomplish the purpose of Arkansas Constitution, Amendment 82, and this subchapter.

(1) Provide loans to a sponsor for payment of project costs;

(2) Develop or cause to be developed with proceeds of the Amendment 82 bonds, leases as lessee or lessor, in any manner acquire, own, hold, maintain, operate, sell, dispose of, exchange, mortgage, or lend, on behalf of the state, with respect to all or any part of any qualified Amendment 82 project;

(3) In any manner acquire, own, hold, use, exercise, sell, mortgage, pledge, hypothecate, or dispose of franchises, rights, privileges, licenses, rights-of-way, and easements that are necessary, useful, or appropriate for the exercise of the powers or implementation of the purposes set forth in Arkansas Constitution, Amendment 82, and this subchapter;

(4) Sell, convey, mortgage, pledge, lease as lessor, or otherwise dispose of all or any part of any qualified Amendment 82 project or other properties that it owns or leases, tangible or intangible, including, without limitation, franchises, rights, privileges, licenses, rights-of-way, and easements;

(5) Have and exercise the right of eminent domain for the purpose of acquiring lands, the fee title thereto, or any easement, right-of-way, or other interest or estate therein for a qualified Amendment 82 project, the infrastructure needs, or other needs therefor or portions thereof by the procedure now provided for condemnation by railroads in § 18-15-1201 et seq.;

(6) Make or accept gifts or grants of moneys, services, franchises, rights, privileges, licenses, rights-of-way, easements, or other property, real or personal or mixed;

(7) Enter into any contract necessary or convenient for the exercise of the powers or implementation of the purposes set forth in Arkansas Constitution, Amendment 82, and this subchapter;

(8) Fix, regulate, and collect rates, fees, rents, or other charges for the use of any properties or services furnished or delivered by the commission and the authority;

(9) Require audits or other periodic reports of any or all accounts related to construction, operation, or maintenance of any infrastructure or other needs funded by Arkansas Constitution, Amendment 82, and this subchapter;

(10) Take reasonable actions to ensure that debt service requirements are met; and

(11) Take such other action as may be appropriate to accomplish the purpose of Arkansas Constitution, Amendment 82, and this subchapter.

(b) The commission and the authority may promulgate rules with respect to their powers and duties under Arkansas Constitution, Amendment 82, and this subchapter.

(c) No member, officer, director, or employee of the commission or the authority shall be liable personally for any reason arising from the issuance of bonds under Arkansas Constitution, Amendment 82, and this subchapter unless the person acted with corrupt intent.

Acts 2005, No. 1981, § 1.
Ark. Code Ann. § 15-22-1305 — AR Code / Title 15 / Chapter 22 / Subchapter 13 / Section 15-22-1305
Bonds - Form - Terms
Status: in_force

(a) (1) The Arkansas Natural Resources Commission shall authorize by resolution the issuance of bonds under this subchapter. (2) The commission shall determine with regard to the bonds: (A) Form and denominations; (B) Date or dates; (C) Time of maturation; (D) Interest, including: (i) Times payable; (ii) Places within or without the state; and (iii) Rate or rates; (E) Terms and prices of redemption in advance of maturity; and (F) Terms and conditions. (3) The bonds shall be denominated in the currency of the United States. (4) The bonds shall have all the qualities of and shall be deemed to be negotiable instruments under the laws of the state, subject to provisions as to registration. (5) The authorizing resolution may contain any other terms, covenants, and conditions that the commission deems reasonable and desirable, including, without limitation, those pertaining to the: (A) Maintenance of various funds and reserves; (B) Nature and extent of any security for payment of the bonds; (C) Custody and application of proceeds of the bonds; (D) Collection and disposition of revenues; (E) Investing for authorized purposes; and (F) Rights, duties, and obligations of the commission and the holders and registered owners of the bonds. (b) (1) The authorizing resolution may provide for the execution of a trust indenture between the commission and any financial institution within or without the state. (2) The trust indenture may contain any terms, covenants, and conditions that are deemed desirable by the commission, including without limitation, those pertaining to the: (A) Maintenance of various funds and reserves; (B) Nature and extent of any security for the payment of the bonds; (C) Custody and application of proceeds of the bonds; (D) Collection and disposition of revenues; (E) Investing and reinvesting of any moneys during periods not needed for authorized purposes; and (F) Rights, duties, and obligations of the commission and the holders and registered owners of the bonds. (c) (1) Any authorizing resolution and trust indenture relating to the issuance and security of the bonds shall constitute a contract between the commission and registered owners of the bonds. (2) (A) The contract and all covenants, agreements, and obligations therein shall be promptly performed in strict compliance with the terms and provisions of the contract. (B) The covenants, agreements, and obligations of the commission may be enforced by mandamus or other appropriate proceeding at law or in equity. Acts 2003, No. 598, § 1.

(a) (1) The Arkansas Natural Resources Commission shall authorize by resolution the issuance of bonds under this subchapter. (2) The commission shall determine with regard to the bonds: (A) Form and denominations; (B) Date or dates; (C) Time of maturation; (D) Interest, including: (i) Times payable; (ii) Places within or without the state; and (iii) Rate or rates; (E) Terms and prices of redemption in advance of maturity; and (F) Terms and conditions. (3) The bonds shall be denominated in the currency of the United States. (4) The bonds shall have all the qualities of and shall be deemed to be negotiable instruments under the laws of the state, subject to provisions as to registration. (5) The authorizing resolution may contain any other terms, covenants, and conditions that the commission deems reasonable and desirable, including, without limitation, those pertaining to the: (A) Maintenance of various funds and reserves; (B) Nature and extent of any security for payment of the bonds; (C) Custody and application of proceeds of the bonds; (D) Collection and disposition of revenues; (E) Investing for authorized purposes; and (F) Rights, duties, and obligations of the commission and the holders and registered owners of the bonds.

(1) The Arkansas Natural Resources Commission shall authorize by resolution the issuance of bonds under this subchapter.

(2) The commission shall determine with regard to the bonds: (A) Form and denominations; (B) Date or dates; (C) Time of maturation; (D) Interest, including: (i) Times payable; (ii) Places within or without the state; and (iii) Rate or rates; (E) Terms and prices of redemption in advance of maturity; and (F) Terms and conditions.

(A) Form and denominations;

(B) Date or dates;

(C) Time of maturation;

(D) Interest, including: (i) Times payable; (ii) Places within or without the state; and (iii) Rate or rates;

(i) Times payable;

(ii) Places within or without the state; and

(iii) Rate or rates;

(E) Terms and prices of redemption in advance of maturity; and

(F) Terms and conditions.

(3) The bonds shall be denominated in the currency of the United States.

(4) The bonds shall have all the qualities of and shall be deemed to be negotiable instruments under the laws of the state, subject to provisions as to registration.

(5) The authorizing resolution may contain any other terms, covenants, and conditions that the commission deems reasonable and desirable, including, without limitation, those pertaining to the: (A) Maintenance of various funds and reserves; (B) Nature and extent of any security for payment of the bonds; (C) Custody and application of proceeds of the bonds; (D) Collection and disposition of revenues; (E) Investing for authorized purposes; and (F) Rights, duties, and obligations of the commission and the holders and registered owners of the bonds.

(A) Maintenance of various funds and reserves;

(B) Nature and extent of any security for payment of the bonds;

(C) Custody and application of proceeds of the bonds;

(D) Collection and disposition of revenues;

(E) Investing for authorized purposes; and

(F) Rights, duties, and obligations of the commission and the holders and registered owners of the bonds.

(b) (1) The authorizing resolution may provide for the execution of a trust indenture between the commission and any financial institution within or without the state. (2) The trust indenture may contain any terms, covenants, and conditions that are deemed desirable by the commission, including without limitation, those pertaining to the: (A) Maintenance of various funds and reserves; (B) Nature and extent of any security for the payment of the bonds; (C) Custody and application of proceeds of the bonds; (D) Collection and disposition of revenues; (E) Investing and reinvesting of any moneys during periods not needed for authorized purposes; and (F) Rights, duties, and obligations of the commission and the holders and registered owners of the bonds.

(1) The authorizing resolution may provide for the execution of a trust indenture between the commission and any financial institution within or without the state.

(2) The trust indenture may contain any terms, covenants, and conditions that are deemed desirable by the commission, including without limitation, those pertaining to the: (A) Maintenance of various funds and reserves; (B) Nature and extent of any security for the payment of the bonds; (C) Custody and application of proceeds of the bonds; (D) Collection and disposition of revenues; (E) Investing and reinvesting of any moneys during periods not needed for authorized purposes; and (F) Rights, duties, and obligations of the commission and the holders and registered owners of the bonds.

(A) Maintenance of various funds and reserves;

(B) Nature and extent of any security for the payment of the bonds;

(C) Custody and application of proceeds of the bonds;

(D) Collection and disposition of revenues;

(E) Investing and reinvesting of any moneys during periods not needed for authorized purposes; and

(F) Rights, duties, and obligations of the commission and the holders and registered owners of the bonds.

(c) (1) Any authorizing resolution and trust indenture relating to the issuance and security of the bonds shall constitute a contract between the commission and registered owners of the bonds. (2) (A) The contract and all covenants, agreements, and obligations therein shall be promptly performed in strict compliance with the terms and provisions of the contract. (B) The covenants, agreements, and obligations of the commission may be enforced by mandamus or other appropriate proceeding at law or in equity.

(1) Any authorizing resolution and trust indenture relating to the issuance and security of the bonds shall constitute a contract between the commission and registered owners of the bonds.

(2) (A) The contract and all covenants, agreements, and obligations therein shall be promptly performed in strict compliance with the terms and provisions of the contract. (B) The covenants, agreements, and obligations of the commission may be enforced by mandamus or other appropriate proceeding at law or in equity.

(A) The contract and all covenants, agreements, and obligations therein shall be promptly performed in strict compliance with the terms and provisions of the contract.

(B) The covenants, agreements, and obligations of the commission may be enforced by mandamus or other appropriate proceeding at law or in equity.

Acts 2003, No. 598, § 1.
Ark. Code Ann. § 15-22-1202 — AR Code / Title 15 / Chapter 22 / Subchapter 12 / Section 15-22-1202
Legislative findings and intent
Status: in_force

It is the intent of this subchapter to make available revenues and resources to discourage the withdrawal of Sparta Aquifer water by certain large water users in Bradley, Calhoun, Columbia, Jefferson, Ouachita, and Union counties. Acts 1999, No. 1050, § 2; 2005, No. 1774, § 1.

It is the intent of this subchapter to make available revenues and resources to discourage the withdrawal of Sparta Aquifer water by certain large water users in Bradley, Calhoun, Columbia, Jefferson, Ouachita, and Union counties.

Acts 1999, No. 1050, § 2; 2005, No. 1774, § 1.
Ark. Code Ann. § 15-6-107 — AR Code / Title 15 / Chapter 6 / Section 15-6-107
Assistance programs and grants
Status: in_force

(a) The Rural Services Division of the Arkansas Economic Development Commission shall request such specific information as the Director of the Arkansas Economic Development Commission determines to be necessary concerning assistance programs and grants administered by federal, state, and local agencies, individuals, and corporations designed to enhance rural areas. The information shall be used to advise local agencies, individuals, or corporations for the purpose of promoting coordination in program or grant efforts wherever feasible or proper. (b) Any political subdivision requesting program grants or assistance in order to address rural development and revitalization needs, conditions, or strengths in rural areas, pursuant to the rules of the Arkansas Economic Development Commission, may confer with the division to obtain assistance in gaining the most prompt and efficient processing and review of any grant applications. (c) The division, so far as possible, shall render such assistance, and the director may designate an officer or employee of the division to act as an expediter for the purpose of: (1) Facilitating contacts for the applicant with state, federal, or local agencies, individuals, or corporations responsible for processing and reviewing grant applications; (2) Arranging conferences to clarify the interest and requirements of any such agency, individual, or corporation with respect to grant applications; (3) Considering with the agency, individual, or corporation the feasibility of consolidating hearings and data required of the applicant; (4) Assisting the applicant in the resolution of outstanding issues identified by the agency, individual, or corporation, including delays experienced in application review; and (5) Coordinating federal, state, and local grant application review actions and assistance programs to the extent practicable. Amended by Act 2019, No. 910,§ 448, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 447, eff. 7/1/2019. Amended by Act 2015EX1, No. 8,§ 129, eff. 7/1/2015. Amended by Act 2015EX1, No. 7,§ 129, eff. 7/1/2015. Acts 1991, No. 302, § 7; 1999, No. 935, § 5.

(a) The Rural Services Division of the Arkansas Economic Development Commission shall request such specific information as the Director of the Arkansas Economic Development Commission determines to be necessary concerning assistance programs and grants administered by federal, state, and local agencies, individuals, and corporations designed to enhance rural areas. The information shall be used to advise local agencies, individuals, or corporations for the purpose of promoting coordination in program or grant efforts wherever feasible or proper.

(b) Any political subdivision requesting program grants or assistance in order to address rural development and revitalization needs, conditions, or strengths in rural areas, pursuant to the rules of the Arkansas Economic Development Commission, may confer with the division to obtain assistance in gaining the most prompt and efficient processing and review of any grant applications.

(c) The division, so far as possible, shall render such assistance, and the director may designate an officer or employee of the division to act as an expediter for the purpose of: (1) Facilitating contacts for the applicant with state, federal, or local agencies, individuals, or corporations responsible for processing and reviewing grant applications; (2) Arranging conferences to clarify the interest and requirements of any such agency, individual, or corporation with respect to grant applications; (3) Considering with the agency, individual, or corporation the feasibility of consolidating hearings and data required of the applicant; (4) Assisting the applicant in the resolution of outstanding issues identified by the agency, individual, or corporation, including delays experienced in application review; and (5) Coordinating federal, state, and local grant application review actions and assistance programs to the extent practicable.

(1) Facilitating contacts for the applicant with state, federal, or local agencies, individuals, or corporations responsible for processing and reviewing grant applications;

(2) Arranging conferences to clarify the interest and requirements of any such agency, individual, or corporation with respect to grant applications;

(3) Considering with the agency, individual, or corporation the feasibility of consolidating hearings and data required of the applicant;

(4) Assisting the applicant in the resolution of outstanding issues identified by the agency, individual, or corporation, including delays experienced in application review; and

(5) Coordinating federal, state, and local grant application review actions and assistance programs to the extent practicable.

Amended by Act 2019, No. 910,§ 448, eff. 7/1/2019.

Amended by Act 2019, No. 910,§ 447, eff. 7/1/2019.

Amended by Act 2015EX1, No. 8,§ 129, eff. 7/1/2015.

Amended by Act 2015EX1, No. 7,§ 129, eff. 7/1/2015.

Acts 1991, No. 302, § 7; 1999, No. 935, § 5.
Ark. Code Ann. § 15-20-906 — AR Code / Title 15 / Chapter 20 / Subchapter 9 / Section 15-20-906
Disposition of fees and penalties
Status: in_force

(a) Fees paid and penalties collected shall be deposited into the Arkansas Water Development Fund and used in furtherance of the nutrient management program, including this subchapter. (b) Fees or penalties collected shall be cash funds when received by the Treasurer of State and shall not be deposited into or deemed to be a part of the State Treasury for the purposes of: (1) Arkansas Constitution, Article 5, § 29; (2) Arkansas Constitution, Article 16, § 12; (3) Arkansas Constitution, Amendment 20; or (4) Any other constitutional or statutory provision. Amended by Act 2023, No. 600,§ 2, eff. 8/1/2023. Acts 2003, No. 1060, § 1.

(a) Fees paid and penalties collected shall be deposited into the Arkansas Water Development Fund and used in furtherance of the nutrient management program, including this subchapter.

(b) Fees or penalties collected shall be cash funds when received by the Treasurer of State and shall not be deposited into or deemed to be a part of the State Treasury for the purposes of: (1) Arkansas Constitution, Article 5, § 29; (2) Arkansas Constitution, Article 16, § 12; (3) Arkansas Constitution, Amendment 20; or (4) Any other constitutional or statutory provision.

(1) Arkansas Constitution, Article 5, § 29;

(2) Arkansas Constitution, Article 16, § 12;

(3) Arkansas Constitution, Amendment 20; or

(4) Any other constitutional or statutory provision.

Amended by Act 2023, No. 600,§ 2, eff. 8/1/2023.

Acts 2003, No. 1060, § 1.
Ark. Code Ann. § 15-22-403 — AR Code / Title 15 / Chapter 22 / Subchapter 4 / Section 15-22-403
Notice to owners of land containing abandoned or unused well
Status: in_force

Any county judge receiving notice as provided by § 15-22-402 shall ascertain from the record of deeds the owner of the land on which is situated any abandoned artesian well, and the county judge shall notify the property owner by registered letter, with return receipt requested, of the complaint and shall apprise the owner of the provisions of this subchapter. Acts 1949, No. 478, § 2; A.S.A. 1947, § 21-1102.

Any county judge receiving notice as provided by § 15-22-402 shall ascertain from the record of deeds the owner of the land on which is situated any abandoned artesian well, and the county judge shall notify the property owner by registered letter, with return receipt requested, of the complaint and shall apprise the owner of the provisions of this subchapter.

Acts 1949, No. 478, § 2; A.S.A. 1947, § 21-1102.
Ark. Code Ann. § 15-31-104 — AR Code / Title 15 / Chapter 31 / Subchapter 1 / Section 15-31-104
State Forester
Status: in_force

(a) The State Forester shall be appointed by the Governor, and shall serve at the pleasure of the Governor. (b) The State Forester shall report to the Secretary of the Department of Agriculture. (c) (1) The secretary may delegate to the State Forester any of the powers or duties required to administer the: (A) Statutory duties of the Arkansas Forestry Commission; and (B) Rules, orders, or directives promulgated or issued by the commission. (2) The State Forester may exercise the powers and duties delegated to him or her under subdivision (c)(1) of this section in the name of the commission and the department. (3) The commission may delegate to the department any of the powers or duties vested in or imposed upon the commission by law, and these delegated powers or duties may be exercised by the secretary or his or her designee. (d) The State Forester shall: (1) Have earned at a minimum a bachelor's degree in forestry from an accredited four-year program at an institution of higher education; and (2) Have not less than three (3) years' practical administrative and field experience in forestry. Amended by Act 2023, No. 691,§ 72, eff. 7/1/2023. Amended by Act 2019, No. 315,§ 1148, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 88, eff. 7/1/2019. Acts 1953, No. 42, § 7; 1983, No. 691, § 7; A.S.A. 1947, §§ 9-701.1a, 9-701.7; Acts 1995, No. 136, § 2; 1995, No. 138, § 2.

(a) The State Forester shall be appointed by the Governor, and shall serve at the pleasure of the Governor.

(b) The State Forester shall report to the Secretary of the Department of Agriculture.

(c) (1) The secretary may delegate to the State Forester any of the powers or duties required to administer the: (A) Statutory duties of the Arkansas Forestry Commission; and (B) Rules, orders, or directives promulgated or issued by the commission. (2) The State Forester may exercise the powers and duties delegated to him or her under subdivision (c)(1) of this section in the name of the commission and the department. (3) The commission may delegate to the department any of the powers or duties vested in or imposed upon the commission by law, and these delegated powers or duties may be exercised by the secretary or his or her designee.

(1) The secretary may delegate to the State Forester any of the powers or duties required to administer the: (A) Statutory duties of the Arkansas Forestry Commission; and (B) Rules, orders, or directives promulgated or issued by the commission.

(A) Statutory duties of the Arkansas Forestry Commission; and

(B) Rules, orders, or directives promulgated or issued by the commission.

(2) The State Forester may exercise the powers and duties delegated to him or her under subdivision (c)(1) of this section in the name of the commission and the department.

(3) The commission may delegate to the department any of the powers or duties vested in or imposed upon the commission by law, and these delegated powers or duties may be exercised by the secretary or his or her designee.

(d) The State Forester shall: (1) Have earned at a minimum a bachelor's degree in forestry from an accredited four-year program at an institution of higher education; and (2) Have not less than three (3) years' practical administrative and field experience in forestry.

(1) Have earned at a minimum a bachelor's degree in forestry from an accredited four-year program at an institution of higher education; and

(2) Have not less than three (3) years' practical administrative and field experience in forestry.

Amended by Act 2023, No. 691,§ 72, eff. 7/1/2023.

Amended by Act 2019, No. 315,§ 1148, eff. 7/24/2019.

Amended by Act 2019, No. 910,§ 88, eff. 7/1/2019.

Acts 1953, No. 42, § 7; 1983, No. 691, § 7; A.S.A. 1947, §§ 9-701.1a, 9-701.7; Acts 1995, No. 136, § 2; 1995, No. 138, § 2.
Ark. Code Ann. § 15-75-404 — AR Code / Title 15 / Chapter 75 / Subchapter 4 / Section 15-75-404
Inspection
Status: in_force

(a) Each container used for the storage or transportation of liquefied petroleum gases for distribution or resale shall be inspected at least once annually. (b) Each container which is to be used or connected as a part of a plant or to a system for the utilization of liquefied petroleum gases shall have a state registration tag of approval attached before installation and shall be inspected thereafter at such times and in such manner as may be determined under the rules of the Liquefied Petroleum Gas Board. (c) No bulk or commercial storage container shall be installed or moved and reinstalled at any location prior to approval by the board. (d) Any inspector of the board who, after inspection of any container or system, shall find it unsafe, shall forbid its further use. Amended by Act 2019, No. 315,§ 1275, eff. 7/24/2019. Acts 1965, No. 31, § 18; 1981, No. 199, § 1; 1985, No. 909, § 2; A.S.A. 1947, § 53-717.

(a) Each container used for the storage or transportation of liquefied petroleum gases for distribution or resale shall be inspected at least once annually.

(b) Each container which is to be used or connected as a part of a plant or to a system for the utilization of liquefied petroleum gases shall have a state registration tag of approval attached before installation and shall be inspected thereafter at such times and in such manner as may be determined under the rules of the Liquefied Petroleum Gas Board.

(c) No bulk or commercial storage container shall be installed or moved and reinstalled at any location prior to approval by the board.

(d) Any inspector of the board who, after inspection of any container or system, shall find it unsafe, shall forbid its further use.

Amended by Act 2019, No. 315,§ 1275, eff. 7/24/2019.

Acts 1965, No. 31, § 18; 1981, No. 199, § 1; 1985, No. 909, § 2; A.S.A. 1947, § 53-717.
Ark. Code Ann. § 15-76-306 — AR Code / Title 15 / Chapter 76 / Subchapter 3 / Section 15-76-306
Authority of the commission
Status: in_force

(a) The Oil and Gas Commission shall have jurisdiction of and authority over all persons and property necessary to administer and enforce effectively the provisions of this subchapter. (b) The commission shall have the authority and it shall be its duty to make inquiries it deems proper to determine whether or not waste over which it has jurisdiction exists or to determine whether the correlative rights of owners are being protected. In the exercise of this duty, the commission shall have the authority to: (1) Make reasonable investigations and inspections; (2) Examine properties, leases, papers, books, and records; (3) Examine, check, test, and gauge brine wells, injection wells, and pipelines; (4) Hold hearings; (5) Require the keeping of records and the making of reports; and (6) Take such action as may be reasonably necessary to enforce this subchapter. (c) The commission shall have the authority to make, after hearing and notice as provided in this section, such reasonable rules and orders as may be necessary from time to time in the proper administration and enforcement of this subchapter, including rules or orders for the following purposes: (1) To form brine production units and brine expansion units; (2) To require the drilling, casing, and plugging of wells to be done in such a manner as to prevent the escape of brine and effluent from one stratum to another, to prevent the pollution of fresh water supplies by brine and effluent, and to require reasonable financial assurance acceptable to the commission conditioned for the performance of the duty to plug each dry hole or abandoned well; (3) To require the making of reports showing the location of brine wells utilized for production and of injection wells used for disposal and the filing of logs and drilling records for those wells; (4) To require the return of the brine to the same formation from which it was produced unless the commission authorizes the disposal of effluent into one (1) or more other formations upon finding that neither underground damage nor waste results from the disposal; (5) To prevent the drowning by brine and effluent of any stratum or part of a stratum capable of producing oil or gas in paying quantities; (6) To prevent "blowouts", "caving", and "seepage" in the sense that conditions indicated by these terms are generally understood; (7) To identify the ownership of all wells utilized for producing brine and of all injection wells and all pipelines, plants, ponds, structures, and storage facilities; (8) To regulate the "shooting", perforating, and chemical treatment of wells; (9) To regulate the introduction or injection of effluent and other substances into an aquifer; (10) (A) To regulate the spacing of wells for the production of brine and injection wells for the introduction of effluent into an aquifer. (B) However, the commission shall have no authority to allow wells or other installations on the surface of lands without the consent of the surface owner; (11) To formulate rules for the proper transportation of brine from the producing wells to the plant and from the plant to the injection wells and for the maintenance and surveillance of the transportation facilities; and (12) To prevent, so far as is practical, reasonably avoidable drainage between brine production units and brine expansion units. (d) (1) The commission is authorized to assess each producer of brine a charge not to exceed fifty cents (50¢) on each one thousand (1,000) barrels, each of which contains forty-two (42) United States gallons, of brine produced and saved or sold for purposes of the extraction of chemical substances therefrom. (2) All moneys so collected shall be deposited into the Oil and Gas Commission Fund and used solely to pay the expenses and other costs of the commission. (e) Before the commission implements the collection process of any increase in the millage assessments that may be authorized by law on each one thousand (1,000) barrels of brine produced and saved or sold for purposes of chemical extraction, the commission shall first seek review from the Legislative Council or the Joint Budget Committee. Amended by Act 2019, No. 315,§ 1279, eff. 7/24/2019. Amended by Act 2015, No. 89,§ 2, eff. 2/13/2015. Acts 1979, No. 937, § 3; A.S.A. 1947, § 53-1303; Acts 2001, No. 1188, §§ 2, 3; 2005, No. 1267, § 5.

(a) The Oil and Gas Commission shall have jurisdiction of and authority over all persons and property necessary to administer and enforce effectively the provisions of this subchapter.

(b) The commission shall have the authority and it shall be its duty to make inquiries it deems proper to determine whether or not waste over which it has jurisdiction exists or to determine whether the correlative rights of owners are being protected. In the exercise of this duty, the commission shall have the authority to: (1) Make reasonable investigations and inspections; (2) Examine properties, leases, papers, books, and records; (3) Examine, check, test, and gauge brine wells, injection wells, and pipelines; (4) Hold hearings; (5) Require the keeping of records and the making of reports; and (6) Take such action as may be reasonably necessary to enforce this subchapter.

(1) Make reasonable investigations and inspections;

(2) Examine properties, leases, papers, books, and records;

(3) Examine, check, test, and gauge brine wells, injection wells, and pipelines;

(4) Hold hearings;

(5) Require the keeping of records and the making of reports; and

(6) Take such action as may be reasonably necessary to enforce this subchapter.

(c) The commission shall have the authority to make, after hearing and notice as provided in this section, such reasonable rules and orders as may be necessary from time to time in the proper administration and enforcement of this subchapter, including rules or orders for the following purposes: (1) To form brine production units and brine expansion units; (2) To require the drilling, casing, and plugging of wells to be done in such a manner as to prevent the escape of brine and effluent from one stratum to another, to prevent the pollution of fresh water supplies by brine and effluent, and to require reasonable financial assurance acceptable to the commission conditioned for the performance of the duty to plug each dry hole or abandoned well; (3) To require the making of reports showing the location of brine wells utilized for production and of injection wells used for disposal and the filing of logs and drilling records for those wells; (4) To require the return of the brine to the same formation from which it was produced unless the commission authorizes the disposal of effluent into one (1) or more other formations upon finding that neither underground damage nor waste results from the disposal; (5) To prevent the drowning by brine and effluent of any stratum or part of a stratum capable of producing oil or gas in paying quantities; (6) To prevent "blowouts", "caving", and "seepage" in the sense that conditions indicated by these terms are generally understood; (7) To identify the ownership of all wells utilized for producing brine and of all injection wells and all pipelines, plants, ponds, structures, and storage facilities; (8) To regulate the "shooting", perforating, and chemical treatment of wells; (9) To regulate the introduction or injection of effluent and other substances into an aquifer; (10) (A) To regulate the spacing of wells for the production of brine and injection wells for the introduction of effluent into an aquifer. (B) However, the commission shall have no authority to allow wells or other installations on the surface of lands without the consent of the surface owner; (11) To formulate rules for the proper transportation of brine from the producing wells to the plant and from the plant to the injection wells and for the maintenance and surveillance of the transportation facilities; and (12) To prevent, so far as is practical, reasonably avoidable drainage between brine production units and brine expansion units.

(1) To form brine production units and brine expansion units;

(2) To require the drilling, casing, and plugging of wells to be done in such a manner as to prevent the escape of brine and effluent from one stratum to another, to prevent the pollution of fresh water supplies by brine and effluent, and to require reasonable financial assurance acceptable to the commission conditioned for the performance of the duty to plug each dry hole or abandoned well;

(3) To require the making of reports showing the location of brine wells utilized for production and of injection wells used for disposal and the filing of logs and drilling records for those wells;

(4) To require the return of the brine to the same formation from which it was produced unless the commission authorizes the disposal of effluent into one (1) or more other formations upon finding that neither underground damage nor waste results from the disposal;

(5) To prevent the drowning by brine and effluent of any stratum or part of a stratum capable of producing oil or gas in paying quantities;

(6) To prevent "blowouts", "caving", and "seepage" in the sense that conditions indicated by these terms are generally understood;

(7) To identify the ownership of all wells utilized for producing brine and of all injection wells and all pipelines, plants, ponds, structures, and storage facilities;

(8) To regulate the "shooting", perforating, and chemical treatment of wells;

(9) To regulate the introduction or injection of effluent and other substances into an aquifer;

(10) (A) To regulate the spacing of wells for the production of brine and injection wells for the introduction of effluent into an aquifer. (B) However, the commission shall have no authority to allow wells or other installations on the surface of lands without the consent of the surface owner;

(A) To regulate the spacing of wells for the production of brine and injection wells for the introduction of effluent into an aquifer.

(B) However, the commission shall have no authority to allow wells or other installations on the surface of lands without the consent of the surface owner;

(11) To formulate rules for the proper transportation of brine from the producing wells to the plant and from the plant to the injection wells and for the maintenance and surveillance of the transportation facilities; and

(12) To prevent, so far as is practical, reasonably avoidable drainage between brine production units and brine expansion units.

(d) (1) The commission is authorized to assess each producer of brine a charge not to exceed fifty cents (50¢) on each one thousand (1,000) barrels, each of which contains forty-two (42) United States gallons, of brine produced and saved or sold for purposes of the extraction of chemical substances therefrom. (2) All moneys so collected shall be deposited into the Oil and Gas Commission Fund and used solely to pay the expenses and other costs of the commission.

(1) The commission is authorized to assess each producer of brine a charge not to exceed fifty cents (50¢) on each one thousand (1,000) barrels, each of which contains forty-two (42) United States gallons, of brine produced and saved or sold for purposes of the extraction of chemical substances therefrom.

(2) All moneys so collected shall be deposited into the Oil and Gas Commission Fund and used solely to pay the expenses and other costs of the commission.

(e) Before the commission implements the collection process of any increase in the millage assessments that may be authorized by law on each one thousand (1,000) barrels of brine produced and saved or sold for purposes of chemical extraction, the commission shall first seek review from the Legislative Council or the Joint Budget Committee.

Amended by Act 2019, No. 315,§ 1279, eff. 7/24/2019.

Amended by Act 2015, No. 89,§ 2, eff. 2/13/2015.

Acts 1979, No. 937, § 3; A.S.A. 1947, § 53-1303; Acts 2001, No. 1188, §§ 2, 3; 2005, No. 1267, § 5.
Ark. Code Ann. § 15-4-3804 — AR Code / Title 15 / Chapter 4 / Subchapter 38 / Section 15-4-3804
Procurement goal - Distributor requirements
Status: in_force

(a) For each fiscal year, each agency shall make it a goal to ensure that at least twenty percent (20%) of the agency's purchases of food products is spent on local farm or food products. (b) Each agency shall: (1) Identify the percentage of funds spent on local farm or food products purchased for fiscal year 2017 to establish a baseline; and (2) Develop a system for tracking and reporting purchases of local farm or food products each fiscal year. (c) This section does not require an agency to use any specific procurement method for obtaining food products. Amended by Act 2019, No. 796,§ 3, eff. 7/24/2019. Amended by Act 2019, No. 384,§ 2, eff. 7/24/2019. Added by Act 2017, No. 617,§ 1, eff. 8/1/2017.

(a) For each fiscal year, each agency shall make it a goal to ensure that at least twenty percent (20%) of the agency's purchases of food products is spent on local farm or food products.

(b) Each agency shall: (1) Identify the percentage of funds spent on local farm or food products purchased for fiscal year 2017 to establish a baseline; and (2) Develop a system for tracking and reporting purchases of local farm or food products each fiscal year.

(1) Identify the percentage of funds spent on local farm or food products purchased for fiscal year 2017 to establish a baseline; and

(2) Develop a system for tracking and reporting purchases of local farm or food products each fiscal year.

(c) This section does not require an agency to use any specific procurement method for obtaining food products.

Amended by Act 2019, No. 796,§ 3, eff. 7/24/2019.

Amended by Act 2019, No. 384,§ 2, eff. 7/24/2019.

Added by Act 2017, No. 617,§ 1, eff. 8/1/2017.
Ark. Code Ann. § 15-5-309 — AR Code / Title 15 / Chapter 5 / Subchapter 3 / Section 15-5-309
Authorizing resolution and trust indenture - Terms and qualities of bonds
Status: in_force

(a) (1) Bonds issued in accordance with this subchapter shall be authorized by resolution of the Arkansas Development Finance Authority. (2) The bonds may be issued as registered bonds or coupon bonds, payable to bearer, and if coupon bonds, may be registerable as to principal only or as to principal and interest and may be exchangeable for bonds of another denomination or in another form. (3) The bonds may: (A) Be in such form and denominations; (B) Have such date or dates; (C) Be stated to mature at such time or times; (D) Bear interest payable at such times and at such rate or rates, including variable rates; (E) Be zero-coupon or capital appreciation bonds; (F) Be payable at such places within or without the state; (G) Be subject to such terms of redemption in advance of maturity at such prices; and (H) Contain such terms and conditions, all as the authority shall determine. (4) The bonds shall be denominated in the currency of the United States unless the authority in its discretion determines that denominating the bonds in the currency of a foreign country is in the best interests of the authority. In that case, the bonds may be denominated in the currency of a foreign country. (5) The bonds shall have all the qualities of and shall be deemed to be negotiable instruments under the laws of the State of Arkansas, subject to provisions as to registration as set forth in this subsection. (6) The authorizing resolution may contain any other terms, covenants, and conditions that the authority deems reasonable and desirable, including, without limitation, those pertaining to the: (A) Maintenance of various funds and reserves; (B) Nature and extent of any security for payment of the bonds; (C) Custody and application of the proceeds of the bonds; (D) Collection and disposition of revenues; (E) Investing for authorized purposes; and (F) Rights, duties, and obligations of the authority and the holders and registered owners of the bonds. (b) (1) The authorizing resolution may provide for the execution of a trust indenture between the authority and any financial institution within or without the State of Arkansas. (2) The trust indenture may contain any terms, covenants, and conditions that are deemed desirable by the authority, including, without limitation, those pertaining to the: (A) Maintenance of various funds and reserves; (B) Nature and extent of any security for the payment of the bonds; (C) Custody and application of the proceeds of the bonds; (D) Collection and disposition of revenues; (E) Investing and reinvesting of any moneys during periods not needed for authorized purposes; (F) Credit enhancement and liquidity features; and (G) Rights, duties, and obligations of the authority and the holders and registered owners of the bonds. (c) (1) Any authorizing resolution and trust indenture relating to the issuance and security of the bonds shall constitute a contract between the authority and holders and registered owners of the bonds. (2) The contract and all covenants, agreements, and obligations therein shall be promptly performed in strict compliance with the terms and provisions of the contract, and the covenants, agreements, and obligations of the authority may be enforced by mandamus or other appropriate proceeding at law or in equity. Acts 1985, No. 1062, § 7.00; A.S.A. 1947, § 13-2907; Acts 1987, No. 900, § 6; 2003, No. 494, § 3.

(a) (1) Bonds issued in accordance with this subchapter shall be authorized by resolution of the Arkansas Development Finance Authority. (2) The bonds may be issued as registered bonds or coupon bonds, payable to bearer, and if coupon bonds, may be registerable as to principal only or as to principal and interest and may be exchangeable for bonds of another denomination or in another form. (3) The bonds may: (A) Be in such form and denominations; (B) Have such date or dates; (C) Be stated to mature at such time or times; (D) Bear interest payable at such times and at such rate or rates, including variable rates; (E) Be zero-coupon or capital appreciation bonds; (F) Be payable at such places within or without the state; (G) Be subject to such terms of redemption in advance of maturity at such prices; and (H) Contain such terms and conditions, all as the authority shall determine. (4) The bonds shall be denominated in the currency of the United States unless the authority in its discretion determines that denominating the bonds in the currency of a foreign country is in the best interests of the authority. In that case, the bonds may be denominated in the currency of a foreign country. (5) The bonds shall have all the qualities of and shall be deemed to be negotiable instruments under the laws of the State of Arkansas, subject to provisions as to registration as set forth in this subsection. (6) The authorizing resolution may contain any other terms, covenants, and conditions that the authority deems reasonable and desirable, including, without limitation, those pertaining to the: (A) Maintenance of various funds and reserves; (B) Nature and extent of any security for payment of the bonds; (C) Custody and application of the proceeds of the bonds; (D) Collection and disposition of revenues; (E) Investing for authorized purposes; and (F) Rights, duties, and obligations of the authority and the holders and registered owners of the bonds.

(1) Bonds issued in accordance with this subchapter shall be authorized by resolution of the Arkansas Development Finance Authority.

(2) The bonds may be issued as registered bonds or coupon bonds, payable to bearer, and if coupon bonds, may be registerable as to principal only or as to principal and interest and may be exchangeable for bonds of another denomination or in another form.

(3) The bonds may: (A) Be in such form and denominations; (B) Have such date or dates; (C) Be stated to mature at such time or times; (D) Bear interest payable at such times and at such rate or rates, including variable rates; (E) Be zero-coupon or capital appreciation bonds; (F) Be payable at such places within or without the state; (G) Be subject to such terms of redemption in advance of maturity at such prices; and (H) Contain such terms and conditions, all as the authority shall determine.

(A) Be in such form and denominations;

(B) Have such date or dates;

(C) Be stated to mature at such time or times;

(D) Bear interest payable at such times and at such rate or rates, including variable rates;

(E) Be zero-coupon or capital appreciation bonds;

(F) Be payable at such places within or without the state;

(G) Be subject to such terms of redemption in advance of maturity at such prices; and

(H) Contain such terms and conditions, all as the authority shall determine.

all as the authority shall determine.

(4) The bonds shall be denominated in the currency of the United States unless the authority in its discretion determines that denominating the bonds in the currency of a foreign country is in the best interests of the authority. In that case, the bonds may be denominated in the currency of a foreign country.

(5) The bonds shall have all the qualities of and shall be deemed to be negotiable instruments under the laws of the State of Arkansas, subject to provisions as to registration as set forth in this subsection.

(6) The authorizing resolution may contain any other terms, covenants, and conditions that the authority deems reasonable and desirable, including, without limitation, those pertaining to the: (A) Maintenance of various funds and reserves; (B) Nature and extent of any security for payment of the bonds; (C) Custody and application of the proceeds of the bonds; (D) Collection and disposition of revenues; (E) Investing for authorized purposes; and (F) Rights, duties, and obligations of the authority and the holders and registered owners of the bonds.

(A) Maintenance of various funds and reserves;

(B) Nature and extent of any security for payment of the bonds;

(C) Custody and application of the proceeds of the bonds;

(D) Collection and disposition of revenues;

(E) Investing for authorized purposes; and

(F) Rights, duties, and obligations of the authority and the holders and registered owners of the bonds.

(b) (1) The authorizing resolution may provide for the execution of a trust indenture between the authority and any financial institution within or without the State of Arkansas. (2) The trust indenture may contain any terms, covenants, and conditions that are deemed desirable by the authority, including, without limitation, those pertaining to the: (A) Maintenance of various funds and reserves; (B) Nature and extent of any security for the payment of the bonds; (C) Custody and application of the proceeds of the bonds; (D) Collection and disposition of revenues; (E) Investing and reinvesting of any moneys during periods not needed for authorized purposes; (F) Credit enhancement and liquidity features; and (G) Rights, duties, and obligations of the authority and the holders and registered owners of the bonds.

(1) The authorizing resolution may provide for the execution of a trust indenture between the authority and any financial institution within or without the State of Arkansas.

(2) The trust indenture may contain any terms, covenants, and conditions that are deemed desirable by the authority, including, without limitation, those pertaining to the: (A) Maintenance of various funds and reserves; (B) Nature and extent of any security for the payment of the bonds; (C) Custody and application of the proceeds of the bonds; (D) Collection and disposition of revenues; (E) Investing and reinvesting of any moneys during periods not needed for authorized purposes; (F) Credit enhancement and liquidity features; and (G) Rights, duties, and obligations of the authority and the holders and registered owners of the bonds.

(A) Maintenance of various funds and reserves;

(B) Nature and extent of any security for the payment of the bonds;

(C) Custody and application of the proceeds of the bonds;

(D) Collection and disposition of revenues;

(E) Investing and reinvesting of any moneys during periods not needed for authorized purposes;

(F) Credit enhancement and liquidity features; and

(G) Rights, duties, and obligations of the authority and the holders and registered owners of the bonds.

(c) (1) Any authorizing resolution and trust indenture relating to the issuance and security of the bonds shall constitute a contract between the authority and holders and registered owners of the bonds. (2) The contract and all covenants, agreements, and obligations therein shall be promptly performed in strict compliance with the terms and provisions of the contract, and the covenants, agreements, and obligations of the authority may be enforced by mandamus or other appropriate proceeding at law or in equity.

(1) Any authorizing resolution and trust indenture relating to the issuance and security of the bonds shall constitute a contract between the authority and holders and registered owners of the bonds.

(2) The contract and all covenants, agreements, and obligations therein shall be promptly performed in strict compliance with the terms and provisions of the contract, and the covenants, agreements, and obligations of the authority may be enforced by mandamus or other appropriate proceeding at law or in equity.

Acts 1985, No. 1062, § 7.00; A.S.A. 1947, § 13-2907; Acts 1987, No. 900, § 6; 2003, No. 494, § 3.
Ark. Code Ann. § 15-4-206 — AR Code / Title 15 / Chapter 4 / Subchapter 2 / Section 15-4-206
Arkansas Economic Development Commission - Director
Status: in_force

(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. (b) The director shall: (1) Have the experience necessary to lead the Arkansas Economic Development Commission as determined by the Secretary of the Department of Commerce; (2) Be custodian of all property held in the name of the commission; and (3) Be the ex officio disbursing agent of all funds available for the commission's use. Amended by Act 2019, No. 910,§ 359, eff. 7/1/2019. Amended by Act 2013, No. 1185,§ 1, eff. 8/16/2013. Acts 1955, No. 404, § 10; 1979, No. 65, § 4; 1985, No. 712, §§ 1, 2; A.S.A. 1947, § 9-513; Acts 1997, No. 540, § 20.

(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.

(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.

(b) The director shall: (1) Have the experience necessary to lead the Arkansas Economic Development Commission as determined by the Secretary of the Department of Commerce; (2) Be custodian of all property held in the name of the commission; and (3) Be the ex officio disbursing agent of all funds available for the commission's use.

(1) Have the experience necessary to lead the Arkansas Economic Development Commission as determined by the Secretary of the Department of Commerce;

(2) Be custodian of all property held in the name of the commission; and

(3) Be the ex officio disbursing agent of all funds available for the commission's use.

Amended by Act 2019, No. 910,§ 359, eff. 7/1/2019.

Amended by Act 2013, No. 1185,§ 1, eff. 8/16/2013.

Acts 1955, No. 404, § 10; 1979, No. 65, § 4; 1985, No. 712, §§ 1, 2; A.S.A. 1947, § 9-513; Acts 1997, No. 540, § 20.
Ark. Code Ann. § 15-20-1104 — AR Code / Title 15 / Chapter 20 / Subchapter 11 / Section 15-20-1104
Declared nutrient surplus areas
Status: in_force

(a) The General Assembly declares the following areas to be nutrient surplus areas for phosphorus and nitrogen: (1) The Illinois River watershed, included within Benton, Crawford, and Washington counties; (2) The Spavinaw Creek watershed, included within Benton County; (3) The Honey Creek watershed, included within Benton County; (4) The Little Sugar Creek watershed, included within Benton County; (5) The upper Arkansas River watershed, which includes Lee Creek within Crawford and Washington counties and Massard Creek within Sebastian County; (6) The Poteau River watershed, included within Polk, Scott, and Sebastian counties; (7) The Mountain Fork of the Little River watershed, included within Polk County; and (8) The upper White River watershed above its confluence with Crooked Creek. (b) The Arkansas Natural Resources Commission shall promulgate rules to further define the geographical boundaries of any area declared a nutrient surplus area. Acts 2003, No. 1061, § 1; 2005, No. 253, § 2.

(a) The General Assembly declares the following areas to be nutrient surplus areas for phosphorus and nitrogen: (1) The Illinois River watershed, included within Benton, Crawford, and Washington counties; (2) The Spavinaw Creek watershed, included within Benton County; (3) The Honey Creek watershed, included within Benton County; (4) The Little Sugar Creek watershed, included within Benton County; (5) The upper Arkansas River watershed, which includes Lee Creek within Crawford and Washington counties and Massard Creek within Sebastian County; (6) The Poteau River watershed, included within Polk, Scott, and Sebastian counties; (7) The Mountain Fork of the Little River watershed, included within Polk County; and (8) The upper White River watershed above its confluence with Crooked Creek.

(1) The Illinois River watershed, included within Benton, Crawford, and Washington counties;

(2) The Spavinaw Creek watershed, included within Benton County;

(3) The Honey Creek watershed, included within Benton County;

(4) The Little Sugar Creek watershed, included within Benton County;

(5) The upper Arkansas River watershed, which includes Lee Creek within Crawford and Washington counties and Massard Creek within Sebastian County;

(6) The Poteau River watershed, included within Polk, Scott, and Sebastian counties;

(7) The Mountain Fork of the Little River watershed, included within Polk County; and

(8) The upper White River watershed above its confluence with Crooked Creek.

(b) The Arkansas Natural Resources Commission shall promulgate rules to further define the geographical boundaries of any area declared a nutrient surplus area.

Acts 2003, No. 1061, § 1; 2005, No. 253, § 2.
Ark. Code Ann. § 15-4-207 — AR Code / Title 15 / Chapter 4 / Subchapter 2 / Section 15-4-207
[Repealed]
Status: repealed

Repealed by Act 2013, No. 1185,§ 1, eff. 8/16/2013. Acts 1939, No. 68, § 4; A.S.A. 1947, § 9-502; Acts 1997, No. 540, § 66.

Repealed by Act 2013, No. 1185,§ 1, eff. 8/16/2013.

Acts 1939, No. 68, § 4; A.S.A. 1947, § 9-502; Acts 1997, No. 540, § 66.
Ark. Code Ann. § 15-21-205 — AR Code / Title 15 / Chapter 21 / Subchapter 2 / Section 15-21-205
State Surveyor
Status: in_force

(a) The Arkansas Geographic Information Systems Board shall employ, in consultation with the Secretary of the Department of Transformation and Shared Services, a State Surveyor to be the head of the Division of Land Surveys of the Arkansas Geographic Information Systems Office. (b) The State Surveyor shall: (1) Be a person of proven administrative ability, a registered professional surveyor, and a resident of the State of Arkansas with training and experience properly qualifying the person for the performance of his or her official duties; (2) Be appointed by and serve at the pleasure of the Secretary of the Department of Transformation and Shared Services after consultation with the State Board of Licensure for Professional Engineers and Professional Surveyors and the Arkansas Society of Professional Surveyors; (3) Devote his or her full time to the performance of his or her official functions and duties as prescribed in this subchapter; (4) Hold no other lucrative position while serving as State Surveyor; and (5) Receive such compensation as may be prescribed by law. Amended by Act 2019, No. 910,§ 6068, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 6067, eff. 7/1/2019. Amended by Act 2017, No. 145,§ 4, eff. 8/1/2017. Amended by Act 2017, No. 145,§ 3, eff. 8/1/2017. Amended by Act 2015EX1, No. 8,§ 143, eff. 7/1/2015. Amended by Act 2015EX1, No. 7,§ 143, eff. 7/1/2015. Acts 1973, No. 458, § 2; 1977, No. 214, § 2; A.S.A. 1947, §§ 10-1302, 10-1320; Acts 2001, No. 1417, § 3; 2005, No. 1178, § 4; 2007, No. 752, § 4.

(a) The Arkansas Geographic Information Systems Board shall employ, in consultation with the Secretary of the Department of Transformation and Shared Services, a State Surveyor to be the head of the Division of Land Surveys of the Arkansas Geographic Information Systems Office.

(b) The State Surveyor shall: (1) Be a person of proven administrative ability, a registered professional surveyor, and a resident of the State of Arkansas with training and experience properly qualifying the person for the performance of his or her official duties; (2) Be appointed by and serve at the pleasure of the Secretary of the Department of Transformation and Shared Services after consultation with the State Board of Licensure for Professional Engineers and Professional Surveyors and the Arkansas Society of Professional Surveyors; (3) Devote his or her full time to the performance of his or her official functions and duties as prescribed in this subchapter; (4) Hold no other lucrative position while serving as State Surveyor; and (5) Receive such compensation as may be prescribed by law.

(1) Be a person of proven administrative ability, a registered professional surveyor, and a resident of the State of Arkansas with training and experience properly qualifying the person for the performance of his or her official duties;

(2) Be appointed by and serve at the pleasure of the Secretary of the Department of Transformation and Shared Services after consultation with the State Board of Licensure for Professional Engineers and Professional Surveyors and the Arkansas Society of Professional Surveyors;

(3) Devote his or her full time to the performance of his or her official functions and duties as prescribed in this subchapter;

(4) Hold no other lucrative position while serving as State Surveyor; and

(5) Receive such compensation as may be prescribed by law.

Amended by Act 2019, No. 910,§ 6068, eff. 7/1/2019.

Amended by Act 2019, No. 910,§ 6067, eff. 7/1/2019.

Amended by Act 2017, No. 145,§ 4, eff. 8/1/2017.

Amended by Act 2017, No. 145,§ 3, eff. 8/1/2017.

Amended by Act 2015EX1, No. 8,§ 143, eff. 7/1/2015.

Amended by Act 2015EX1, No. 7,§ 143, eff. 7/1/2015.

Acts 1973, No. 458, § 2; 1977, No. 214, § 2; A.S.A. 1947, §§ 10-1302, 10-1320; Acts 2001, No. 1417, § 3; 2005, No. 1178, § 4; 2007, No. 752, § 4.
Ark. Code Ann. § 15-5-1410 — AR Code / Title 15 / Chapter 5 / Subchapter 14 / Section 15-5-1410
Legislative findings
Status: in_force

The General Assembly finds: (1) There is a need to strengthen and advance the infrastructure that supports and accelerates the advancement of the growth of technology-based enterprises in Arkansas; (2) There exists a shortage of risk capital and financial assistance at the early stages of development for technology-based enterprises; (3) An improved investment climate for early stage technology-based enterprises is expected to increase, advance, and accelerate the growth and development of technology-based enterprises in Arkansas; (4) The ultimate goal of supporting technology-based enterprises is to convert research and development activities and early stage technology-based enterprises into viable commercial ventures; and (5) The provision of financial investment and assistance to aid early stage technology-based enterprises is expected to strengthen the economic base of the State of Arkansas and create better paying jobs, thereby benefiting all residents of the state. Added by Act 2019, No. 925,§ 5, eff. 7/24/2019.

The General Assembly finds:

(1) There is a need to strengthen and advance the infrastructure that supports and accelerates the advancement of the growth of technology-based enterprises in Arkansas;

(2) There exists a shortage of risk capital and financial assistance at the early stages of development for technology-based enterprises;

(3) An improved investment climate for early stage technology-based enterprises is expected to increase, advance, and accelerate the growth and development of technology-based enterprises in Arkansas;

(4) The ultimate goal of supporting technology-based enterprises is to convert research and development activities and early stage technology-based enterprises into viable commercial ventures; and

(5) The provision of financial investment and assistance to aid early stage technology-based enterprises is expected to strengthen the economic base of the State of Arkansas and create better paying jobs, thereby benefiting all residents of the state.

Added by Act 2019, No. 925,§ 5, eff. 7/24/2019.
Ark. Code Ann. § 15-10-203 — AR Code / Title 15 / Chapter 10 / Subchapter 2 / Section 15-10-203
Arkansas Energy Office - Creation
Status: in_force

(a) (1) There is created the Arkansas Energy Office of the Division of Environmental Quality. (2) (A) The executive head of this office shall be the Director of the Arkansas Energy Office. (B) The Director of the Arkansas Energy Office shall be appointed by the Secretary of the Department of Energy and Environment with the advice and consent of the Governor. (b) The office shall consist of such sections as may be established by the Director of the Arkansas Energy Office, with the approval of the Director of the Division of Environmental Quality and the secretary. Amended by Act 2019, No. 910,§ 3055, eff. 7/1/2019. Amended by Act 2017, No. 271,§ 6, eff. 8/1/2017. Acts 1981, No. 7, § 3; A.S.A. 1947, § 5-938; Acts 1997, No. 540, § 35.

(a) (1) There is created the Arkansas Energy Office of the Division of Environmental Quality. (2) (A) The executive head of this office shall be the Director of the Arkansas Energy Office. (B) The Director of the Arkansas Energy Office shall be appointed by the Secretary of the Department of Energy and Environment with the advice and consent of the Governor.

(1) There is created the Arkansas Energy Office of the Division of Environmental Quality.

(2) (A) The executive head of this office shall be the Director of the Arkansas Energy Office. (B) The Director of the Arkansas Energy Office shall be appointed by the Secretary of the Department of Energy and Environment with the advice and consent of the Governor.

(A) The executive head of this office shall be the Director of the Arkansas Energy Office.

(B) The Director of the Arkansas Energy Office shall be appointed by the Secretary of the Department of Energy and Environment with the advice and consent of the Governor.

(b) The office shall consist of such sections as may be established by the Director of the Arkansas Energy Office, with the approval of the Director of the Division of Environmental Quality and the secretary.

Amended by Act 2019, No. 910,§ 3055, eff. 7/1/2019.

Amended by Act 2017, No. 271,§ 6, eff. 8/1/2017.

Acts 1981, No. 7, § 3; A.S.A. 1947, § 5-938; Acts 1997, No. 540, § 35.
Ark. Code Ann. § 15-74-708 — AR Code / Title 15 / Chapter 74 / Subchapter 7 / Section 15-74-708
Forfeiture of lease upon lessee receiving more than share from sale - Purchaser to pay treble value
Status: in_force

(a) Any leaseholder or operator who contracts for the sale of gas or oil to any pipeline company or other purchaser, under and by virtue of the terms of which the lessee receives a greater amount than the royalty owners in proportion to interest therein, or receives a bonus, or by any other means conspires with a purchaser to receive from the sale of the oil and gas more than his or her just proportionate share therefrom shall forfeit his or her rights in and to the leasehold premises. (b) Any pipeline company or other purchaser of oil and gas who contracts with any lessee as set out in subsection (a) of this section to the injury of the royalty owners shall forfeit to the royalty owners treble value of the amount of oil or gas runs thus wrongfully taken from the royalty interest. Acts 1929, No. 222, § 6; Pope's Dig., § 10502; A.S.A. 1947, § 53-514.

(a) Any leaseholder or operator who contracts for the sale of gas or oil to any pipeline company or other purchaser, under and by virtue of the terms of which the lessee receives a greater amount than the royalty owners in proportion to interest therein, or receives a bonus, or by any other means conspires with a purchaser to receive from the sale of the oil and gas more than his or her just proportionate share therefrom shall forfeit his or her rights in and to the leasehold premises.

(b) Any pipeline company or other purchaser of oil and gas who contracts with any lessee as set out in subsection (a) of this section to the injury of the royalty owners shall forfeit to the royalty owners treble value of the amount of oil or gas runs thus wrongfully taken from the royalty interest.

Acts 1929, No. 222, § 6; Pope's Dig., § 10502; A.S.A. 1947, § 53-514.
Ark. Code Ann. § 15-5-420 — AR Code / Title 15 / Chapter 5 / Subchapter 4 / Section 15-5-420
Obligation of authority - Disposition of proceeds
Status: in_force

(a) All bonds issued under this subchapter shall be obligations of the Arkansas Development Finance Authority only and shall not be obligations of the State of Arkansas and shall not be secured by a lien on any revenues of the State of Arkansas. (b) The bonds shall be payable from the Guaranty Bond Fund created by § 15-5-421(e) and the revenues which, pursuant to the provisions of this subchapter, are to be deposited therein. (c) The net proceeds, being gross proceeds less all expenses of authorizing and issuing the bonds, which shall be first paid out of the proceeds, of all bonds issued under this subchapter shall be deposited into the Bond Guaranty Reserve Account, except accrued interest paid by the purchaser shall be deposited into the fund. Acts 1985, No. 340, § 11; 1985, No. 505, § 11; A.S.A. 1947, § 13-2934; Acts 2007, No. 827, § 135.

(a) All bonds issued under this subchapter shall be obligations of the Arkansas Development Finance Authority only and shall not be obligations of the State of Arkansas and shall not be secured by a lien on any revenues of the State of Arkansas.

(b) The bonds shall be payable from the Guaranty Bond Fund created by § 15-5-421(e) and the revenues which, pursuant to the provisions of this subchapter, are to be deposited therein.

(c) The net proceeds, being gross proceeds less all expenses of authorizing and issuing the bonds, which shall be first paid out of the proceeds, of all bonds issued under this subchapter shall be deposited into the Bond Guaranty Reserve Account, except accrued interest paid by the purchaser shall be deposited into the fund.

Acts 1985, No. 340, § 11; 1985, No. 505, § 11; A.S.A. 1947, § 13-2934; Acts 2007, No. 827, § 135.
Ark. Code Ann. § 15-20-308 — AR Code / Title 15 / Chapter 20 / Subchapter 3 / Section 15-20-308
Commission - Rights, powers, and duties
Status: in_force

The Arkansas Natural Heritage Commission shall have the following rights, powers, and duties: (1) To choose lands, waters, and interests therein to be acquired in the manner set forth elsewhere in this subchapter for inclusion in the system, in accordance with criteria specified in § 15-20-310 ; (2) (A) (i) To acquire, by purchase, gift, devise, grant, dedication, as hereinafter defined, or otherwise, the fee or other interest in real property for inclusion in the system. (ii) However, the commission shall not have the power of eminent domain. (B) The commission shall retain fee title or convey that title to such agency or department of the state as it may select, after due consideration of: (i) The particular characteristics of a natural area; (ii) The type and extent of management required to maintain that area in its natural condition; (iii) The types and extent of activity permissible which are consistent with preservation of natural heritage; and (iv) Other factors; (3) To acquire and hold any interest in real property less than fee, including environmental or scenic easements; (4) (A) To establish and from time to time amend such policies and rules for the selection, acquisition, management, protection, and use of the system as it may find necessary or appropriate to preserve the lands or interests therein acquired under this subchapter and carry out the policies of this subchapter. (B) These policies and rules shall prevail, in the event of conflict, over any policies, rules, and practices of any agency or department that may receive title to any portion of the system; (5) To cooperate and contract with any federal, state, or local governmental agency, private organization, or individual; (6) (A) To maintain: (i) (a) A registry or inventory of lands and waters in the state, whether publicly or privately owned, that retain their primeval character to a substantial degree or that have floral, faunal, ecological, geological, or archeological features of significant scientific, educational, or recreational interest. (b) The registry shall be known as the "Registry of Natural Areas"; and (ii) An inventory of habitats of rare, vanishing, or endangered species, subspecies, or populations of plants and animals, and other records of natural areas. (B) However, the commission shall have no regulatory jurisdiction over lands or interests therein not actually acquired for the system; (7) To conduct research and investigation and to publish and disseminate information and recommendations pertaining to natural areas and to the system; (8) To supervise the protection, management, and use of the system and to administer and enforce its policies and rules; (9) To investigate, promote, advise, and assist in the preservation, protection, and management of natural areas; and (10) To advise the United States Department of Agriculture and the United States Department of the Interior and other agencies of the United States Government concerning areas or streams eligible for treatment under federal criteria as wildlife refuges, wilderness areas, or wild, scenic, or recreational rivers. Amended by Act 2019, No. 315,§ 1114, eff. 7/24/2019. Amended by Act 2019, No. 315,§ 1113, eff. 7/24/2019. Amended by Act 2017, No. 720,§ 5, eff. 8/1/2017. Acts 1973, No. 112, § 9; 1977, No. 213, § 1; A.S.A. 1947, § 9-1409; Acts 2001, No. 959, § 1.

The Arkansas Natural Heritage Commission shall have the following rights, powers, and duties:

(1) To choose lands, waters, and interests therein to be acquired in the manner set forth elsewhere in this subchapter for inclusion in the system, in accordance with criteria specified in § 15-20-310 ;

(2) (A) (i) To acquire, by purchase, gift, devise, grant, dedication, as hereinafter defined, or otherwise, the fee or other interest in real property for inclusion in the system. (ii) However, the commission shall not have the power of eminent domain. (B) The commission shall retain fee title or convey that title to such agency or department of the state as it may select, after due consideration of: (i) The particular characteristics of a natural area; (ii) The type and extent of management required to maintain that area in its natural condition; (iii) The types and extent of activity permissible which are consistent with preservation of natural heritage; and (iv) Other factors;

(A) (i) To acquire, by purchase, gift, devise, grant, dedication, as hereinafter defined, or otherwise, the fee or other interest in real property for inclusion in the system. (ii) However, the commission shall not have the power of eminent domain.

(i) To acquire, by purchase, gift, devise, grant, dedication, as hereinafter defined, or otherwise, the fee or other interest in real property for inclusion in the system.

(ii) However, the commission shall not have the power of eminent domain.

(B) The commission shall retain fee title or convey that title to such agency or department of the state as it may select, after due consideration of: (i) The particular characteristics of a natural area; (ii) The type and extent of management required to maintain that area in its natural condition; (iii) The types and extent of activity permissible which are consistent with preservation of natural heritage; and (iv) Other factors;

(i) The particular characteristics of a natural area;

(ii) The type and extent of management required to maintain that area in its natural condition;

(iii) The types and extent of activity permissible which are consistent with preservation of natural heritage; and

(iv) Other factors;

(3) To acquire and hold any interest in real property less than fee, including environmental or scenic easements;

(4) (A) To establish and from time to time amend such policies and rules for the selection, acquisition, management, protection, and use of the system as it may find necessary or appropriate to preserve the lands or interests therein acquired under this subchapter and carry out the policies of this subchapter. (B) These policies and rules shall prevail, in the event of conflict, over any policies, rules, and practices of any agency or department that may receive title to any portion of the system;

(A) To establish and from time to time amend such policies and rules for the selection, acquisition, management, protection, and use of the system as it may find necessary or appropriate to preserve the lands or interests therein acquired under this subchapter and carry out the policies of this subchapter.

(B) These policies and rules shall prevail, in the event of conflict, over any policies, rules, and practices of any agency or department that may receive title to any portion of the system;

(5) To cooperate and contract with any federal, state, or local governmental agency, private organization, or individual;

(6) (A) To maintain: (i) (a) A registry or inventory of lands and waters in the state, whether publicly or privately owned, that retain their primeval character to a substantial degree or that have floral, faunal, ecological, geological, or archeological features of significant scientific, educational, or recreational interest. (b) The registry shall be known as the "Registry of Natural Areas"; and (ii) An inventory of habitats of rare, vanishing, or endangered species, subspecies, or populations of plants and animals, and other records of natural areas. (B) However, the commission shall have no regulatory jurisdiction over lands or interests therein not actually acquired for the system;

(A) To maintain: (i) (a) A registry or inventory of lands and waters in the state, whether publicly or privately owned, that retain their primeval character to a substantial degree or that have floral, faunal, ecological, geological, or archeological features of significant scientific, educational, or recreational interest. (b) The registry shall be known as the "Registry of Natural Areas"; and (ii) An inventory of habitats of rare, vanishing, or endangered species, subspecies, or populations of plants and animals, and other records of natural areas.

(i) (a) A registry or inventory of lands and waters in the state, whether publicly or privately owned, that retain their primeval character to a substantial degree or that have floral, faunal, ecological, geological, or archeological features of significant scientific, educational, or recreational interest. (b) The registry shall be known as the "Registry of Natural Areas"; and

(a) A registry or inventory of lands and waters in the state, whether publicly or privately owned, that retain their primeval character to a substantial degree or that have floral, faunal, ecological, geological, or archeological features of significant scientific, educational, or recreational interest.

(b) The registry shall be known as the "Registry of Natural Areas"; and

(ii) An inventory of habitats of rare, vanishing, or endangered species, subspecies, or populations of plants and animals, and other records of natural areas.

(B) However, the commission shall have no regulatory jurisdiction over lands or interests therein not actually acquired for the system;

(7) To conduct research and investigation and to publish and disseminate information and recommendations pertaining to natural areas and to the system;

(8) To supervise the protection, management, and use of the system and to administer and enforce its policies and rules;

(9) To investigate, promote, advise, and assist in the preservation, protection, and management of natural areas; and

(10) To advise the United States Department of Agriculture and the United States Department of the Interior and other agencies of the United States Government concerning areas or streams eligible for treatment under federal criteria as wildlife refuges, wilderness areas, or wild, scenic, or recreational rivers.

Amended by Act 2019, No. 315,§ 1114, eff. 7/24/2019.

Amended by Act 2019, No. 315,§ 1113, eff. 7/24/2019.

Amended by Act 2017, No. 720,§ 5, eff. 8/1/2017.

Acts 1973, No. 112, § 9; 1977, No. 213, § 1; A.S.A. 1947, § 9-1409; Acts 2001, No. 959, § 1.
Ark. Code Ann. § 15-4-503 — AR Code / Title 15 / Chapter 4 / Subchapter 5 / Section 15-4-503
Articles - Signatures and acknowledgment of incorporators
Status: in_force

The original copy of the articles of incorporation shall be signed by the incorporators and acknowledged before any officer authorized by the laws of this state to acknowledge the execution of deeds and conveyances. Acts 1955, No. 404, § 15; A.S.A. 1947, § 9-518.

The original copy of the articles of incorporation shall be signed by the incorporators and acknowledged before any officer authorized by the laws of this state to acknowledge the execution of deeds and conveyances.

Acts 1955, No. 404, § 15; A.S.A. 1947, § 9-518.
Ark. Code Ann. § 15-13-301 — AR Code / Title 15 / Chapter 13 / Subchapter 3 / Section 15-13-301
Arkansas Alternative Fuels Development Program
Status: in_force

(a) The Arkansas Alternative Fuels Development Program is established and shall be developed and administered by the Department of Agriculture. (b) The program shall include four (4) types of incentives: (1) Capital and operation production incentives for alternative fuels producers; (2) Production incentives for feedstock processors; (3) Distribution incentives for alternative fuels distributors; and (4) Rebate incentives for the: (A) Differential costs; and (B) Costs of converting a diesel-powered or gasoline-powered motor vehicle into a: (i) Dedicated compressed natural gas motor vehicle; (ii) Bi-fuel compressed natural gas motor vehicle; (iii) Dedicated propane gas motor vehicle; or (iv) Bi-fuel propane gas motor vehicle. (c) The incentives under this subchapter are available only for the following after July 1, 2013: (1) Capital investments in alternative fuels production facilities, feedstock processing facilities, or distribution facilities; (2) The production of alternative fuels; (3) The processing of feedstock; or (4) The conversion of a diesel-powered or gasoline-powered motor vehicle into a: (A) Dedicated compressed natural gas motor vehicle; (B) Bi-fuel compressed natural gas motor vehicle; (C) Dedicated propane gas motor vehicle; or (D) Bi-fuel propane gas motor vehicle. Amended by Act 2019, No. 910,§ 51, eff. 7/1/2019. Amended by Act 2013, No. 152,§ 4, eff. 2/26/2013. Acts 2007, No. 873, § 1; 2011, No. 832, § 2; 2011, No. 1165, § 2.

(a) The Arkansas Alternative Fuels Development Program is established and shall be developed and administered by the Department of Agriculture.

(b) The program shall include four (4) types of incentives: (1) Capital and operation production incentives for alternative fuels producers; (2) Production incentives for feedstock processors; (3) Distribution incentives for alternative fuels distributors; and (4) Rebate incentives for the: (A) Differential costs; and (B) Costs of converting a diesel-powered or gasoline-powered motor vehicle into a: (i) Dedicated compressed natural gas motor vehicle; (ii) Bi-fuel compressed natural gas motor vehicle; (iii) Dedicated propane gas motor vehicle; or (iv) Bi-fuel propane gas motor vehicle.

(1) Capital and operation production incentives for alternative fuels producers;

(2) Production incentives for feedstock processors;

(3) Distribution incentives for alternative fuels distributors; and

(4) Rebate incentives for the: (A) Differential costs; and (B) Costs of converting a diesel-powered or gasoline-powered motor vehicle into a: (i) Dedicated compressed natural gas motor vehicle; (ii) Bi-fuel compressed natural gas motor vehicle; (iii) Dedicated propane gas motor vehicle; or (iv) Bi-fuel propane gas motor vehicle.

(A) Differential costs; and

(B) Costs of converting a diesel-powered or gasoline-powered motor vehicle into a: (i) Dedicated compressed natural gas motor vehicle; (ii) Bi-fuel compressed natural gas motor vehicle; (iii) Dedicated propane gas motor vehicle; or (iv) Bi-fuel propane gas motor vehicle.

(i) Dedicated compressed natural gas motor vehicle;

(ii) Bi-fuel compressed natural gas motor vehicle;

(iii) Dedicated propane gas motor vehicle; or

(iv) Bi-fuel propane gas motor vehicle.

(c) The incentives under this subchapter are available only for the following after July 1, 2013: (1) Capital investments in alternative fuels production facilities, feedstock processing facilities, or distribution facilities; (2) The production of alternative fuels; (3) The processing of feedstock; or (4) The conversion of a diesel-powered or gasoline-powered motor vehicle into a: (A) Dedicated compressed natural gas motor vehicle; (B) Bi-fuel compressed natural gas motor vehicle; (C) Dedicated propane gas motor vehicle; or (D) Bi-fuel propane gas motor vehicle.

(1) Capital investments in alternative fuels production facilities, feedstock processing facilities, or distribution facilities;

(2) The production of alternative fuels;

(3) The processing of feedstock; or

(4) The conversion of a diesel-powered or gasoline-powered motor vehicle into a: (A) Dedicated compressed natural gas motor vehicle; (B) Bi-fuel compressed natural gas motor vehicle; (C) Dedicated propane gas motor vehicle; or (D) Bi-fuel propane gas motor vehicle.

(A) Dedicated compressed natural gas motor vehicle;

(B) Bi-fuel compressed natural gas motor vehicle;

(C) Dedicated propane gas motor vehicle; or

(D) Bi-fuel propane gas motor vehicle.

Amended by Act 2019, No. 910,§ 51, eff. 7/1/2019.

Amended by Act 2013, No. 152,§ 4, eff. 2/26/2013.

Acts 2007, No. 873, § 1; 2011, No. 832, § 2; 2011, No. 1165, § 2.
Ark. Code Ann. § 15-75-401 — AR Code / Title 15 / Chapter 75 / Subchapter 4 / Section 15-75-401
Vapor pressure
Status: in_force

The vapor pressure of any gases delivered for use in any container shall not exceed, at one hundred degrees Fahrenheit (100°F), the allowable pressure for gas to be used in the container as fixed by the manufacturer. Acts 1965, No. 31, § 16; A.S.A. 1947, § 53-715.

The vapor pressure of any gases delivered for use in any container shall not exceed, at one hundred degrees Fahrenheit (100°F), the allowable pressure for gas to be used in the container as fixed by the manufacturer.

Acts 1965, No. 31, § 16; A.S.A. 1947, § 53-715.
Ark. Code Ann. § 15-4-3301 — AR Code / Title 15 / Chapter 4 / Subchapter 33 / Section 15-4-3301
Title
Status: in_force

This subchapter shall be known and may be cited as the "Equity Investment Incentive Act of 2007". Acts 2007, No. 566, § 1.

This subchapter shall be known and may be cited as the "Equity Investment Incentive Act of 2007".

Acts 2007, No. 566, § 1.
Ark. Code Ann. § 15-4-3607 — AR Code / Title 15 / Chapter 4 / Subchapter 36 / Section 15-4-3607
Recapture
Status: in_force

The Arkansas Economic Development Commission shall recapture the tax credit allowed under this subchapter from the taxpayer that claimed the tax credit if: (1) (A) Any amount of a federal tax credit available with respect to a qualified equity investment that is eligible for a tax credit under this subchapter is recaptured under 26 U.S.C. § 45D , as it existed on January 1, 2013. (B) If a recapture occurs under subdivision (1)(A) of this section, the commission's recapture shall be proportionate to the federal recapture with respect to the qualified equity investment; (2) (A) The issuer redeems or makes principal repayment with respect to a qualified equity investment before the seventh anniversary of the issuance of the qualified equity investment. (B) If a recapture occurs under subdivision (2)(A) of this section, the commission's recapture shall be proportionate to the amount of the redemption or repayment with respect to the qualified equity investment; (3) (A) The issuer fails to: (i) Invest an amount equal to eighty-five percent (85%) of the purchase price of the qualified equity investment in qualified low-income community investments in Arkansas within twelve (12) months of the issuance of the qualified equity investment; and (ii) Maintain the minimum investment level required under subdivision (3)(A)(i) of this section until the last credit allowance date for the qualified equity investment. (B) (i) A qualified equity investment shall be considered held by an issuer even if a qualified low-income community investment has been sold or repaid if the issuer reinvests an amount equal to the capital returned to or recovered by the issuer from the original qualified low-income community investment, exclusive of any profits realized, in another qualified low-income community investment within twelve (12) months of the receipt of such returned capital. (ii) Periodic amounts received during a calendar year as repayment of principal on a loan that is a qualified low-income community investment shall be treated as continuously invested in a qualified low-income community investment if the amounts are reinvested in one (1) or more qualified low-income community investments by the end of the following year. (C) An issuer shall not be required to reinvest capital returned from a qualified low-income community investment, and the qualified low-income community investment shall be considered held by the issuer through the seventh anniversary of the qualified equity investment's issuance after the earlier of: (i) The sixth anniversary of the credit allowance date of the qualified equity investment, the proceeds of which were used to make the qualified low-income community investment; or (ii) The date by which a qualified community development entity has made qualified low-income community investments with the proceeds of such qualified equity investment on a cumulative basis equal to at least one hundred fifty percent (150%) of such proceeds; or (4) At any time before the final credit allowance date of a qualified equity investment, the issuer uses the cash proceeds of the qualified equity investment to make qualified low-income community investments in any one (1) or more qualified active low-income community businesses, including without limitation affiliated qualified active low-income community businesses and excluding reinvestments of capital returned or repaid with respect to earlier qualified equity investments in the qualified active low-income community business and its affiliates in excess of twenty-five percent (25%) of the cash proceeds of all qualified equity investments issued by the issuer under this section. Added by Act 2013, No. 1474,§ 1, eff. 4/22/2013.

The Arkansas Economic Development Commission shall recapture the tax credit allowed under this subchapter from the taxpayer that claimed the tax credit if:

(1) (A) Any amount of a federal tax credit available with respect to a qualified equity investment that is eligible for a tax credit under this subchapter is recaptured under 26 U.S.C. § 45D , as it existed on January 1, 2013. (B) If a recapture occurs under subdivision (1)(A) of this section, the commission's recapture shall be proportionate to the federal recapture with respect to the qualified equity investment;

(A) Any amount of a federal tax credit available with respect to a qualified equity investment that is eligible for a tax credit under this subchapter is recaptured under 26 U.S.C. § 45D , as it existed on January 1, 2013.

(B) If a recapture occurs under subdivision (1)(A) of this section, the commission's recapture shall be proportionate to the federal recapture with respect to the qualified equity investment;

(2) (A) The issuer redeems or makes principal repayment with respect to a qualified equity investment before the seventh anniversary of the issuance of the qualified equity investment. (B) If a recapture occurs under subdivision (2)(A) of this section, the commission's recapture shall be proportionate to the amount of the redemption or repayment with respect to the qualified equity investment;

(A) The issuer redeems or makes principal repayment with respect to a qualified equity investment before the seventh anniversary of the issuance of the qualified equity investment.

(B) If a recapture occurs under subdivision (2)(A) of this section, the commission's recapture shall be proportionate to the amount of the redemption or repayment with respect to the qualified equity investment;

(3) (A) The issuer fails to: (i) Invest an amount equal to eighty-five percent (85%) of the purchase price of the qualified equity investment in qualified low-income community investments in Arkansas within twelve (12) months of the issuance of the qualified equity investment; and (ii) Maintain the minimum investment level required under subdivision (3)(A)(i) of this section until the last credit allowance date for the qualified equity investment. (B) (i) A qualified equity investment shall be considered held by an issuer even if a qualified low-income community investment has been sold or repaid if the issuer reinvests an amount equal to the capital returned to or recovered by the issuer from the original qualified low-income community investment, exclusive of any profits realized, in another qualified low-income community investment within twelve (12) months of the receipt of such returned capital. (ii) Periodic amounts received during a calendar year as repayment of principal on a loan that is a qualified low-income community investment shall be treated as continuously invested in a qualified low-income community investment if the amounts are reinvested in one (1) or more qualified low-income community investments by the end of the following year. (C) An issuer shall not be required to reinvest capital returned from a qualified low-income community investment, and the qualified low-income community investment shall be considered held by the issuer through the seventh anniversary of the qualified equity investment's issuance after the earlier of: (i) The sixth anniversary of the credit allowance date of the qualified equity investment, the proceeds of which were used to make the qualified low-income community investment; or (ii) The date by which a qualified community development entity has made qualified low-income community investments with the proceeds of such qualified equity investment on a cumulative basis equal to at least one hundred fifty percent (150%) of such proceeds; or

(A) The issuer fails to: (i) Invest an amount equal to eighty-five percent (85%) of the purchase price of the qualified equity investment in qualified low-income community investments in Arkansas within twelve (12) months of the issuance of the qualified equity investment; and (ii) Maintain the minimum investment level required under subdivision (3)(A)(i) of this section until the last credit allowance date for the qualified equity investment.

(i) Invest an amount equal to eighty-five percent (85%) of the purchase price of the qualified equity investment in qualified low-income community investments in Arkansas within twelve (12) months of the issuance of the qualified equity investment; and

(ii) Maintain the minimum investment level required under subdivision (3)(A)(i) of this section until the last credit allowance date for the qualified equity investment.

(B) (i) A qualified equity investment shall be considered held by an issuer even if a qualified low-income community investment has been sold or repaid if the issuer reinvests an amount equal to the capital returned to or recovered by the issuer from the original qualified low-income community investment, exclusive of any profits realized, in another qualified low-income community investment within twelve (12) months of the receipt of such returned capital. (ii) Periodic amounts received during a calendar year as repayment of principal on a loan that is a qualified low-income community investment shall be treated as continuously invested in a qualified low-income community investment if the amounts are reinvested in one (1) or more qualified low-income community investments by the end of the following year.

(i) A qualified equity investment shall be considered held by an issuer even if a qualified low-income community investment has been sold or repaid if the issuer reinvests an amount equal to the capital returned to or recovered by the issuer from the original qualified low-income community investment, exclusive of any profits realized, in another qualified low-income community investment within twelve (12) months of the receipt of such returned capital.

(ii) Periodic amounts received during a calendar year as repayment of principal on a loan that is a qualified low-income community investment shall be treated as continuously invested in a qualified low-income community investment if the amounts are reinvested in one (1) or more qualified low-income community investments by the end of the following year.

(C) An issuer shall not be required to reinvest capital returned from a qualified low-income community investment, and the qualified low-income community investment shall be considered held by the issuer through the seventh anniversary of the qualified equity investment's issuance after the earlier of: (i) The sixth anniversary of the credit allowance date of the qualified equity investment, the proceeds of which were used to make the qualified low-income community investment; or (ii) The date by which a qualified community development entity has made qualified low-income community investments with the proceeds of such qualified equity investment on a cumulative basis equal to at least one hundred fifty percent (150%) of such proceeds; or

(i) The sixth anniversary of the credit allowance date of the qualified equity investment, the proceeds of which were used to make the qualified low-income community investment; or

(ii) The date by which a qualified community development entity has made qualified low-income community investments with the proceeds of such qualified equity investment on a cumulative basis equal to at least one hundred fifty percent (150%) of such proceeds; or

(4) At any time before the final credit allowance date of a qualified equity investment, the issuer uses the cash proceeds of the qualified equity investment to make qualified low-income community investments in any one (1) or more qualified active low-income community businesses, including without limitation affiliated qualified active low-income community businesses and excluding reinvestments of capital returned or repaid with respect to earlier qualified equity investments in the qualified active low-income community business and its affiliates in excess of twenty-five percent (25%) of the cash proceeds of all qualified equity investments issued by the issuer under this section.

Added by Act 2013, No. 1474,§ 1, eff. 4/22/2013.
Ark. Code Ann. § 15-75-306 — AR Code / Title 15 / Chapter 75 / Subchapter 3 / Section 15-75-306
Issuance of permits - Classification
Status: in_force

(a) After approval of the application by the Director of the Liquefied Petroleum Gas Board and review by the Liquefied Petroleum Gas Board as provided in § 15-75-305 , the director may issue the classes of permits set out in §§ 15-75-307 - 15-75-317 on the conditions indicated in those sections. (b) All class one permit application approvals must have all prerequisites met and the permit issued within one (1) year of approval. If not issued within one (1) year of approval, the application will be returned to the applicant and a new application must be submitted to the director thirty (30) days prior to the date of the regular meeting at which the review of the director's action on the application is to be considered. Acts 1965, No. 31, § 24; A.S.A. 1947, § 53-723; Acts 1997, No. 1277, § 4; 1999, No. 1577, § 7; 2007, No. 733, § 6.

(a) After approval of the application by the Director of the Liquefied Petroleum Gas Board and review by the Liquefied Petroleum Gas Board as provided in § 15-75-305 , the director may issue the classes of permits set out in §§ 15-75-307 - 15-75-317 on the conditions indicated in those sections.

(b) All class one permit application approvals must have all prerequisites met and the permit issued within one (1) year of approval. If not issued within one (1) year of approval, the application will be returned to the applicant and a new application must be submitted to the director thirty (30) days prior to the date of the regular meeting at which the review of the director's action on the application is to be considered.

Acts 1965, No. 31, § 24; A.S.A. 1947, § 53-723; Acts 1997, No. 1277, § 4; 1999, No. 1577, § 7; 2007, No. 733, § 6.
Ark. Code Ann. § 15-74-603 — AR Code / Title 15 / Chapter 74 / Subchapter 6 / Section 15-74-603
Action for nonpayment of proceeds
Status: in_force

(a) Any court of competent jurisdiction of the county in which the oil or gas well is located shall have jurisdiction over all proceedings brought pursuant to this subchapter. (b) If persons legally entitled to the proceeds seek relief for the failure of the purchaser to make timely payment of proceeds from the sale of oil or gas or interest thereon as required in §§ 15-74-601 and 15-74-602 , the first purchaser or the owner of the right to produce under an oil or gas lease or force pooling order shall be furnished with written notice of the failure as a prerequisite to commencing judicial action for the nonpayment. (c) The first purchaser shall have thirty (30) days after receipt of the required notice within which to pay proceeds or to respond in writing with a reasonable basis for nonpayment. (d) If the court is satisfied that payments have not been willfully withheld without just cause or through bad faith, the penalty provisions of § 15-74-602 shall not apply to the withholding of the payments. (e) In the event of willful nonpayment, or in the event the court finds there was a complete absence of a justiciable issue of either law or fact raised by the losing party or his or her attorney, the court shall award an attorney's fee in an amount not to exceed five thousand dollars ($5,000) or ten percent (10%) of the amount in controversy, whichever is less, to the prevailing party unless a voluntary dismissal is filed, or the pleadings are amended as to any nonjusticiable issue within a reasonable time after the attorney or party filing the dismissal or the amended pleadings knew, or reasonably should have known, that he or she would not prevail. (f) The terms of this section shall not be applicable to any producing unit or well that produces liquid hydrocarbons only, or liquid hydrocarbons associated with the production of gas, or gas produced associated with the production of liquid hydrocarbons. Acts 1981, No. 269, § 1; 1983, No. 448, § 1; A.S.A. 1947, § 53-525; Acts 1987, No. 94, §§ 3, 4.

(a) Any court of competent jurisdiction of the county in which the oil or gas well is located shall have jurisdiction over all proceedings brought pursuant to this subchapter.

(b) If persons legally entitled to the proceeds seek relief for the failure of the purchaser to make timely payment of proceeds from the sale of oil or gas or interest thereon as required in §§ 15-74-601 and 15-74-602 , the first purchaser or the owner of the right to produce under an oil or gas lease or force pooling order shall be furnished with written notice of the failure as a prerequisite to commencing judicial action for the nonpayment.

(c) The first purchaser shall have thirty (30) days after receipt of the required notice within which to pay proceeds or to respond in writing with a reasonable basis for nonpayment.

(d) If the court is satisfied that payments have not been willfully withheld without just cause or through bad faith, the penalty provisions of § 15-74-602 shall not apply to the withholding of the payments.

(e) In the event of willful nonpayment, or in the event the court finds there was a complete absence of a justiciable issue of either law or fact raised by the losing party or his or her attorney, the court shall award an attorney's fee in an amount not to exceed five thousand dollars ($5,000) or ten percent (10%) of the amount in controversy, whichever is less, to the prevailing party unless a voluntary dismissal is filed, or the pleadings are amended as to any nonjusticiable issue within a reasonable time after the attorney or party filing the dismissal or the amended pleadings knew, or reasonably should have known, that he or she would not prevail.

(f) The terms of this section shall not be applicable to any producing unit or well that produces liquid hydrocarbons only, or liquid hydrocarbons associated with the production of gas, or gas produced associated with the production of liquid hydrocarbons.

Acts 1981, No. 269, § 1; 1983, No. 448, § 1; A.S.A. 1947, § 53-525; Acts 1987, No. 94, §§ 3, 4.
Ark. Code Ann. § 15-11-408 — AR Code / Title 15 / Chapter 11 / Subchapter 4 / Section 15-11-408
Matching state funds - Use, reversion, and reallocation
Status: in_force

(a) (1) The State Parks, Recreation, and Travel Commission shall promulgate reasonable rules regarding the use of matching funds that are available to the respective regional tourist promotion agencies. (2) The funds available to each regional tourist promotion agency may be used for needed approved tourist promotion and advertising or research programs designed to encourage and stimulate the visitor and vacation business within the natural planning region and for operational and administrative expenses, as may have been approved by the commission or the Department of Parks, Heritage, and Tourism. (b) (1) Matching funds available for operational and administrative expenses shall be limited to ten percent (10%) of the funds allocated to the regional tourist promotion agency. (2) It is the intent of this section that no more than ten percent (10%) of the funds made available to a regional tourist promotion agency shall be used for operational or administrative expenses. (c) (1) After six (6) months, unused state funds allocated to a regional tourist promotion agency shall revert to the commission to be reapportioned on a pro rata basis to participating regional tourist promotion agencies with active programs. (2) However, no one (1) regional tourist promotion agency shall receive in excess of twenty percent (20%) of the funds appropriated for grants under the provisions of this subchapter. (d) In the event sufficient regional or local funds cannot be raised to match the state funds appropriated for the matching fund program by January 1 of each year, those state funds not applied for shall revert to the advertising and promotion budget of the Tourism Division. Amended by Act 2019, No. 315,§ 1104, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 5645, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 5644, eff. 7/1/2019. Acts 1969, No. 310, § 6; 1971, No. 368, § 2; 1973, No. 336, § 3; A.S.A. 1947, § 9-226; Acts 1991, No. 283, § 1; 1995, No. 1296, § 50.

(a) (1) The State Parks, Recreation, and Travel Commission shall promulgate reasonable rules regarding the use of matching funds that are available to the respective regional tourist promotion agencies. (2) The funds available to each regional tourist promotion agency may be used for needed approved tourist promotion and advertising or research programs designed to encourage and stimulate the visitor and vacation business within the natural planning region and for operational and administrative expenses, as may have been approved by the commission or the Department of Parks, Heritage, and Tourism.

(1) The State Parks, Recreation, and Travel Commission shall promulgate reasonable rules regarding the use of matching funds that are available to the respective regional tourist promotion agencies.

(2) The funds available to each regional tourist promotion agency may be used for needed approved tourist promotion and advertising or research programs designed to encourage and stimulate the visitor and vacation business within the natural planning region and for operational and administrative expenses, as may have been approved by the commission or the Department of Parks, Heritage, and Tourism.

(b) (1) Matching funds available for operational and administrative expenses shall be limited to ten percent (10%) of the funds allocated to the regional tourist promotion agency. (2) It is the intent of this section that no more than ten percent (10%) of the funds made available to a regional tourist promotion agency shall be used for operational or administrative expenses.

(1) Matching funds available for operational and administrative expenses shall be limited to ten percent (10%) of the funds allocated to the regional tourist promotion agency.

(2) It is the intent of this section that no more than ten percent (10%) of the funds made available to a regional tourist promotion agency shall be used for operational or administrative expenses.

(c) (1) After six (6) months, unused state funds allocated to a regional tourist promotion agency shall revert to the commission to be reapportioned on a pro rata basis to participating regional tourist promotion agencies with active programs. (2) However, no one (1) regional tourist promotion agency shall receive in excess of twenty percent (20%) of the funds appropriated for grants under the provisions of this subchapter.

(1) After six (6) months, unused state funds allocated to a regional tourist promotion agency shall revert to the commission to be reapportioned on a pro rata basis to participating regional tourist promotion agencies with active programs.

(2) However, no one (1) regional tourist promotion agency shall receive in excess of twenty percent (20%) of the funds appropriated for grants under the provisions of this subchapter.

(d) In the event sufficient regional or local funds cannot be raised to match the state funds appropriated for the matching fund program by January 1 of each year, those state funds not applied for shall revert to the advertising and promotion budget of the Tourism Division.

Amended by Act 2019, No. 315,§ 1104, eff. 7/24/2019.

Amended by Act 2019, No. 910,§ 5645, eff. 7/1/2019.

Amended by Act 2019, No. 910,§ 5644, eff. 7/1/2019.

Acts 1969, No. 310, § 6; 1971, No. 368, § 2; 1973, No. 336, § 3; A.S.A. 1947, § 9-226; Acts 1991, No. 283, § 1; 1995, No. 1296, § 50.
Ark. Code Ann. § 15-23-906 — AR Code / Title 15 / Chapter 23 / Subchapter 9 / Section 15-23-906
Application and award
Status: in_force

(a) The Arkansas Waterways Commission shall promulgate the application format to be used in applying for funding through the Port Priority Improvement Program. (b) All applications shall be submitted as required by the establishing rules. (c) After receipt of the application, the Arkansas Waterways Commission, working in partnership with the Arkansas Economic Development Commission, shall review the applications and shall select the applications by rank order which will best fulfill the goals and objectives of the program as described by the program's rules. The Arkansas Waterways Commission shall then make awards to the applicants based on their rank order on the list of applications. (d) The projects may be funded until all funds available for this purpose have been expended. Amended by Act 2019, No. 315,§ 1147, eff. 7/24/2019. Acts 2001, No. 1546, § 1.

(a) The Arkansas Waterways Commission shall promulgate the application format to be used in applying for funding through the Port Priority Improvement Program.

(b) All applications shall be submitted as required by the establishing rules.

(c) After receipt of the application, the Arkansas Waterways Commission, working in partnership with the Arkansas Economic Development Commission, shall review the applications and shall select the applications by rank order which will best fulfill the goals and objectives of the program as described by the program's rules. The Arkansas Waterways Commission shall then make awards to the applicants based on their rank order on the list of applications.

(d) The projects may be funded until all funds available for this purpose have been expended.

Amended by Act 2019, No. 315,§ 1147, eff. 7/24/2019.

Acts 2001, No. 1546, § 1.
Ark. Code Ann. § 15-22-810 — AR Code / Title 15 / Chapter 22 / Subchapter 8 / Section 15-22-810
Exceptions to federal cooperation requirement
Status: in_force

The Arkansas Natural Resources Commission may provide financial assistance to a local government for water resources development projects under this subchapter without the requirement of execution of a cooperative agreement between the local government and the federal government if the commission determines that: (1) The water resources development project is of such a type or size that does not make cost sharing through a cooperative agreement efficient or effective; or (2) Current conditions make the funding of the water resources development project through a cooperative agreement between the federal government and local government within a reasonable time unlikely. Acts 2001, No. 1039, § 2.

The Arkansas Natural Resources Commission may provide financial assistance to a local government for water resources development projects under this subchapter without the requirement of execution of a cooperative agreement between the local government and the federal government if the commission determines that:

(1) The water resources development project is of such a type or size that does not make cost sharing through a cooperative agreement efficient or effective; or

(2) Current conditions make the funding of the water resources development project through a cooperative agreement between the federal government and local government within a reasonable time unlikely.

Acts 2001, No. 1039, § 2.
Ark. Code Ann. § 15-41-203 — AR Code / Title 15 / Chapter 41 / Subchapter 2 / Section 15-41-203
Authorized searches
Status: in_force

Any game warden or other officer having authority to enforce the game laws of this state is authorized to proceed according to law to search any person, railroad train, boat, place of business, or any other public carrier to ascertain whether or not the game and fish laws are being violated. Acts 1943, No. 146, § 9; A.S.A. 1947, § 47-502.

Any game warden or other officer having authority to enforce the game laws of this state is authorized to proceed according to law to search any person, railroad train, boat, place of business, or any other public carrier to ascertain whether or not the game and fish laws are being violated.

Acts 1943, No. 146, § 9; A.S.A. 1947, § 47-502.
Ark. Code Ann. § 15-74-407 — AR Code / Title 15 / Chapter 74 / Subchapter 4 / Section 15-74-407
Prohibition on sale or use of certain fluids for illumination or heating
Status: in_force

No oils or fluids which ignite or burn at any temperature less than that established by the current American Society for Testing and Materials standards or such other standards as the Arkansas Bureau of Standards may establish shall be offered for sale or used for illuminating or heating purposes within the state. However, it shall be lawful to offer for sale or sell any of the fluids to be used for illuminating or heating purposes within this state in the form of vapor or gas, and to use the fluids for those purposes regardless of the flash point. Acts 1933, No. 134, § 4; Pope's Dig., § 10451; Acts 1977, No. 346, § 2; A.S.A. 1947, § 53-604.

No oils or fluids which ignite or burn at any temperature less than that established by the current American Society for Testing and Materials standards or such other standards as the Arkansas Bureau of Standards may establish shall be offered for sale or used for illuminating or heating purposes within the state. However, it shall be lawful to offer for sale or sell any of the fluids to be used for illuminating or heating purposes within this state in the form of vapor or gas, and to use the fluids for those purposes regardless of the flash point.

Acts 1933, No. 134, § 4; Pope's Dig., § 10451; Acts 1977, No. 346, § 2; A.S.A. 1947, § 53-604.
Ark. Code Ann. § 15-4-3201 — AR Code / Title 15 / Chapter 4 / Subchapter 32 / Section 15-4-3201
Title
Status: in_force

This subchapter shall be known and may be cited as the "Arkansas Amendment 82 Implementation Act". Acts 2005, No. 1981, § 1.

This subchapter shall be known and may be cited as the "Arkansas Amendment 82 Implementation Act".

Acts 2005, No. 1981, § 1.
Ark. Code Ann. § 15-75-103 — AR Code / Title 15 / Chapter 75 / Subchapter 1 / Section 15-75-103
Penalty
Status: in_force

Any person violating any of the provisions of this act or any rule adopted pursuant thereto shall be guilty of a misdemeanor and upon conviction shall be fined in a sum of not less than twenty-five dollars ($25.00) nor more than one thousand dollars ($1,000) and, in addition, may be imprisoned for not more than one (1) year, or both. Amended by Act 2019, No. 315,§ 1265, eff. 7/24/2019. Acts 1965, No. 31, § 30; A.S.A. 1947, § 53-729.

Any person violating any of the provisions of this act or any rule adopted pursuant thereto shall be guilty of a misdemeanor and upon conviction shall be fined in a sum of not less than twenty-five dollars ($25.00) nor more than one thousand dollars ($1,000) and, in addition, may be imprisoned for not more than one (1) year, or both.

Amended by Act 2019, No. 315,§ 1265, eff. 7/24/2019.

Acts 1965, No. 31, § 30; A.S.A. 1947, § 53-729.
Ark. Code Ann. § 15-20-902 — AR Code / Title 15 / Chapter 20 / Subchapter 9 / Section 15-20-902
Legislative intent
Status: in_force

It is found by the General Assembly that: (1) Litter provides nutrients that are beneficial to plant growth; (2) The proper utilization of litter allows the addition of nutrients to the soil at a low cost; (3) Improper utilization may result in a buildup of nutrients in the soil and result in the nutrients' leaving the soil and entering the waters within the state; (4) In order to encourage the proper utilization of litter, litter sources must be located and the amount of litter produced in Arkansas quantified; and (5) It is necessary for poultry feeding operations to register annually with the Department of Agriculture. Amended by Act 2023, No. 600,§ 2, eff. 8/1/2023. Acts 2003, No. 1060, § 1.

It is found by the General Assembly that:

(1) Litter provides nutrients that are beneficial to plant growth;

(2) The proper utilization of litter allows the addition of nutrients to the soil at a low cost;

(3) Improper utilization may result in a buildup of nutrients in the soil and result in the nutrients' leaving the soil and entering the waters within the state;

(4) In order to encourage the proper utilization of litter, litter sources must be located and the amount of litter produced in Arkansas quantified; and

(5) It is necessary for poultry feeding operations to register annually with the Department of Agriculture.

Amended by Act 2023, No. 600,§ 2, eff. 8/1/2023.

Acts 2003, No. 1060, § 1.
Ark. Code Ann. § 15-22-506 — AR Code / Title 15 / Chapter 22 / Subchapter 5 / Section 15-22-506
Cooperation with state or federal agencies - Project costs
Status: in_force

(a) The Arkansas Natural Resources Commission is authorized to engage in any water development project or any phase thereof in cooperation with any political subdivision or agency of the State of Arkansas, provided it is included in and made a part of the Arkansas Water Plan. (b) Whenever any water development project of any federal agency is included in the plan, the commission shall so advise the appropriate federal agency and shall obtain from that federal agency an estimate of the entire amounts of nonfederal costs involved in the water development project. (c) (1) Whenever it shall make a determination, based upon such estimates and its own study that the local nonfederal costs of the water development project may be amortized over the life of the water development project, the commission may give the appropriate federal agency constructing the water development project reasonable assurance, in writing, that the demands for the use of the water development project will be made within a period of time which will permit the paying out of the costs within the life of the water development project. (2) Nothing in subdivision (c)(1) of this section shall be construed as to commit the state government either to pay or guarantee the payment of such costs, and a statement to that effect shall be contained in any such writing. (3) Subdivision (c)(2) of this section shall not be so construed as to inhibit the right of the commission to pay any such costs as related to anticipated future demand or need whenever it shall have been provided with funds for that purpose. (d) Whenever funds are appropriated for that purpose and to the extent that they are available, the commission may use such funds for the following water development project costs: (1) Planning and engineering costs; (2) Costs of acquisition of necessary lands, rights-of-way, and easements; (3) Costs of necessary relocation of roads, highways, bridges, railroads, pipelines, power transmission lines, and other such properties; (4) Construction costs; (5) Project operation, maintenance, and replacement costs; and (6) Payment of interest on the unpaid balance of any of the itemized costs in this subsection. Acts 1969, No. 217, § 3; 1973, No. 584, § 3; A.S.A. 1947, § 21-1319.

(a) The Arkansas Natural Resources Commission is authorized to engage in any water development project or any phase thereof in cooperation with any political subdivision or agency of the State of Arkansas, provided it is included in and made a part of the Arkansas Water Plan.

(b) Whenever any water development project of any federal agency is included in the plan, the commission shall so advise the appropriate federal agency and shall obtain from that federal agency an estimate of the entire amounts of nonfederal costs involved in the water development project.

(c) (1) Whenever it shall make a determination, based upon such estimates and its own study that the local nonfederal costs of the water development project may be amortized over the life of the water development project, the commission may give the appropriate federal agency constructing the water development project reasonable assurance, in writing, that the demands for the use of the water development project will be made within a period of time which will permit the paying out of the costs within the life of the water development project. (2) Nothing in subdivision (c)(1) of this section shall be construed as to commit the state government either to pay or guarantee the payment of such costs, and a statement to that effect shall be contained in any such writing. (3) Subdivision (c)(2) of this section shall not be so construed as to inhibit the right of the commission to pay any such costs as related to anticipated future demand or need whenever it shall have been provided with funds for that purpose.

(1) Whenever it shall make a determination, based upon such estimates and its own study that the local nonfederal costs of the water development project may be amortized over the life of the water development project, the commission may give the appropriate federal agency constructing the water development project reasonable assurance, in writing, that the demands for the use of the water development project will be made within a period of time which will permit the paying out of the costs within the life of the water development project.

(2) Nothing in subdivision (c)(1) of this section shall be construed as to commit the state government either to pay or guarantee the payment of such costs, and a statement to that effect shall be contained in any such writing.

(3) Subdivision (c)(2) of this section shall not be so construed as to inhibit the right of the commission to pay any such costs as related to anticipated future demand or need whenever it shall have been provided with funds for that purpose.

(d) Whenever funds are appropriated for that purpose and to the extent that they are available, the commission may use such funds for the following water development project costs: (1) Planning and engineering costs; (2) Costs of acquisition of necessary lands, rights-of-way, and easements; (3) Costs of necessary relocation of roads, highways, bridges, railroads, pipelines, power transmission lines, and other such properties; (4) Construction costs; (5) Project operation, maintenance, and replacement costs; and (6) Payment of interest on the unpaid balance of any of the itemized costs in this subsection.

(1) Planning and engineering costs;

(2) Costs of acquisition of necessary lands, rights-of-way, and easements;

(3) Costs of necessary relocation of roads, highways, bridges, railroads, pipelines, power transmission lines, and other such properties;

(4) Construction costs;

(5) Project operation, maintenance, and replacement costs; and

(6) Payment of interest on the unpaid balance of any of the itemized costs in this subsection.

Acts 1969, No. 217, § 3; 1973, No. 584, § 3; A.S.A. 1947, § 21-1319.