reglab/housing_qa huggingface dataset:
AR Code § 15-4-3218 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 32 - Arkansas Amendment 82 Implementation Act|§ 15-4-3218. Contractual obligations of state — Enforcement

 (a) This subchapter shall constitute a contract between the state and the registered owners of all bonds issued under Arkansas Constitution, Amendment 82, and this subchapter that shall never be impaired, and any violation of its terms, whether under purported legislative authority or otherwise, shall be enjoined by the courts at the suit of any bondholder or any taxpayer.  (b)  (1) In any suit for impairment or violation of contract with regard to bonds issued under Arkansas Constitution, Amendment 82, and this subchapter brought against the Arkansas Development Finance Authority, the Treasurer of State, or other appropriate agency, officer, or official of the state, the courts shall prevent a diversion of any revenues pledged and shall compel the restoration of diverted revenues by injunction or mandamus.  (2) Without limitation as to any other appropriate remedy at law or in equity, any bondholder, by an appropriate action, including, without limitation, injunction or mandamus, may compel the performance under this subchapter of all covenants and obligations of the state and its officers and officials.
AR Code § 15-4-3219 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 32 - Arkansas Amendment 82 Implementation Act|§ 15-4-3219. No rights until first series of bonds sold and delivered — Outstanding bonds unaffected

 (a) This subchapter shall not create any right of any character, and no right of any character shall arise under it unless and until the first series of bonds authorized by this subchapter are sold and delivered.  (b) The issuance of bonds authorized by this subchapter shall not impair or affect any outstanding bonds of the Arkansas Development Finance Authority issued under prior acts.
AR Code § 15-4-3220 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 32 - Arkansas Amendment 82 Implementation Act|§ 15-4-3220. Legal actions heard as preferred cause — Appeals

 Any case involving the validity of this subchapter or involving the bonds issued under Arkansas Constitution, Amendment 82, and this subchapter shall be deemed of public interest and shall be advanced by all courts and heard as a preferred cause, and all appeals from judgments or decrees rendered in the cases must be taken within thirty (30) calendar days after rendition of the judgment or decree.
AR Code § 15-4-3221 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 32 - Arkansas Amendment 82 Implementation Act|§ 15-4-3221. Monitoring and reporting

 (a) The Arkansas Economic Development Commission shall require audits of all accounts related to construction, operation, or maintenance of any qualified Amendment 82 project funded by this subchapter.  (b) The Arkansas Economic Development Commission is responsible for monitoring and reporting to the Arkansas Development Finance Authority, the Governor, and the General Assembly on the ongoing economic impact of the project and the sponsor's progress in meeting the terms and conditions under the Amendment 82 agreement and this subchapter.  (c) The Arkansas Economic Development Commission and the authority, as applicable, shall require the sponsor to comply with all reporting and auditing requirements of the United States Securities and Exchange Commission or other state or federal regulatory agency that may have jurisdiction over the sponsor.
AR Code § 15-4-3222 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 32 - Arkansas Amendment 82 Implementation Act|§ 15-4-3222. Release of information

 (a)  (1) Except as otherwise required to be disclosed under this subchapter, all information of the type identified in § 25-19-105(b)(9)(A) and related to a proposed project or a qualified Amendment 82 project that is provided to, compiled by or for, or developed by or for the Arkansas Economic Development Commission, the Arkansas Development Finance Authority, the Chief Fiscal Officer of the State, a local entity, the Governor, or the Office of Economic and Tax Policy of the Bureau of Legislative Research in furtherance of their powers, duties, and obligations under this subchapter is awarded the privileges and entitled to the exclusions set forth in subsection (b) of this section.  (2) Subdivision (a)(1) of this section shall not apply to information that is:  (A) Generated, compiled, or developed by a local entity that is not an agency or instrumentality of the state;  (B) Noncompetitive and nonproprietary; and  (C) Not provided to the commission under its powers, duties, and obligations set forth in this subchapter.      (b) The information described in subdivision (a)(1) of this section is not open to inspection and copying by any citizen of the State of Arkansas and is specifically exempt from the requirements of § 25-19-105(a) regardless of whether such information is in the custody of the commission, the authority, the Chief Fiscal Officer of the State, a local entity, or the Governor.
AR Code § 15-4-3224 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 32 - Arkansas Amendment 82 Implementation Act|§ 15-4-3224. Public reporting requirements

 (a) The reports delivered to the General Assembly under § 15-4-3203(i)(2) and (3) shall be available to the general public under the same policies and procedures that generally apply with respect to reports to the General Assembly.  (b)  (1) During the term of an Amendment 82 agreement, the Arkansas Economic Development Commission shall provide a report to the Legislative Council no less frequently than annually with respect to the status of the applicable qualified Amendment 82 project which details the sponsor's compliance with the provisions of the Amendment 82 agreement.  (2) At a minimum, the commission's report shall address:  (A) A description of the infrastructure needs and other needs provided by the state under Arkansas Constitution, Amendment 82, and this subchapter and costs associated with each item;  (B) A description of how the sponsor has satisfied the investment and job creation requirements of the Amendment 82 agreement, including performance benchmarks and economic goals as specifically defined in the Amendment 82 agreement;  (C) The number of jobs created by each qualified Amendment 82 project and average hourly wages for each project;  (D) A description of the benefits package, including, without limitation, health and retirement benefits received by hourly employees;  (E) A comparison of the total number of new jobs and annual payroll by the sponsor pertaining to the qualified Amendment 82 project on the date the Amendment 82 agreement was executed and the end date of the calendar year before the filing of this report; and  (F) The application of any penalties for failure of the sponsor to satisfy its commitments under an Amendment 82 agreement.      (c) At the end of a ten-year period following the beginning of operation of the Amendment 82 project, the General Assembly may request a third party cost-benefit analysis to accurately determine the total project costs and the total benefits received by the state from the qualified Amendment 82 project.  (d) While Amendment 82 bonds are outstanding, the Arkansas Development Finance Authority shall provide a report to the Legislative Council, no less frequently than annually, with respect to the status of the Amendment 82 bonds. The report shall contain the information required by § 19-9-502.  (e) During the term of an Amendment 82 agreement, the Chief Fiscal Officer of the State shall provide a report to the Legislative Council, no less frequently than annually, with respect to the dates and costs of all economic incentives received by each qualified Amendment 82 project except as restricted by law.
AR Code § 15-4-3301 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 33 - Equity Investment Incentive Act of 2007|§ 15-4-3301. Title

 This subchapter shall be known and may be cited as the “Equity Investment Incentive Act of 2007”.
AR Code § 15-4-3302 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 33 - Equity Investment Incentive Act of 2007|§ 15-4-3302. Equity investment incentives — Creation — Purpose — Tax credit

 (a) Equity investment incentives in the form of tax credits to persons or companies investing in certain types of eligible businesses are created.  (b) The equity investment incentives shall:  (1) Encourage capital investment in certain types of businesses including:  (A) Early-stage businesses and start-up businesses in this state;  (B) Businesses paying wages in excess of prevailing wages in the state or the county where the company is located; and  (C) Businesses that are invested in by venture capital funds and regional or community-based alliance funds; and    (2) Create new jobs.    (c)  (1) An equity investment incentive tax credit is created that shall be equal to thirty-three and one-third percent (331/3%) of the approved amount invested by an investor in an eligible business, as identified in § 15-4-3303(a).  (2) The tax credit, if awarded, is available to the investor.
AR Code § 15-4-3303 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 33 - Equity Investment Incentive Act of 2007|§ 15-4-3303. Eligibility for equity investment incentive

 (a) Eligibility for the equity investment incentive tax credit under this subchapter is limited to investments in:  (1) Targeted businesses as defined in § 15-4-2703(43); or  (2) A business that receives assistance in the form of equity investments from capital investment funds that target early-stage businesses and start-up businesses, if the business:  (A) Pays not less than one hundred fifty percent (150%) of the lesser of the county average wage or the state average wage; and  (B) Meets at least two (2) of the following conditions:  (i) The business is in one (1) of the business sectors set forth in § 15-4-2703(43)(A)(i)-(vi);  (ii) The business is identified in a local or regional economic development plan as the type of business targeted for recruitment or growth within the community or region;  (iii) The business is supported by a resolution of the city council or quorum court in the municipality or county in which the business is located or plans to locate;  (iv) The business is supported by business incubators certified under § 26-51-815(d);  (v) The business is supported by federal small business innovation research grants; or  (vi) The business is supported by technology development or seed capital investments made by instrumentalities of the state.        (b)  (1) The award of the equity investment incentive tax credit to a qualified business under subsection (a) of this section shall be determined jointly at the discretion of the Director of the Arkansas Economic Development Commission with the advice of the Board of Directors of the Division of Science and Technology of the Arkansas Economic Development Commission and the President of the Arkansas Development Finance Authority.  (2) Only cash investments shall qualify for the equity investment incentive tax credit under this subchapter, including without limitation the initial principal amount of a qualifying convertible financing structure if the convertible financing structure is required to be converted to equity by the business receiving the investment no later than five (5) years from the date the convertible financing structure was consummated.  (3) A business that seeks eligibility for an equity investment incentive tax credit under this subchapter shall sign an equity investment incentive agreement with the Arkansas Economic Development Commission.
AR Code § 15-4-3304 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 33 - Equity Investment Incentive Act of 2007|§ 15-4-3304. Application for an equity investment incentive tax credit

 (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.
AR Code § 15-4-3306 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 33 - Equity Investment Incentive Act of 2007|§ 15-4-3306. Rules

 The Arkansas Economic Development Commission and the Arkansas Development Finance Authority shall promulgate jointly rules to implement this subchapter.
AR Code § 15-4-3307 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 33 - Equity Investment Incentive Act of 2007|§ 15-4-3307. Definition

 As used in this subchapter, “convertible financing structure” means an investment mechanism that converts into equity at a subsequent event, including without limitation convertible debt, convertible equity, and a convertible note.
AR Code § 15-4-3401 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 34 - Regional Economic Development Partnership Act|§ 15-4-3401. Title

 This subchapter shall be known and may be cited as the “Regional Economic Development Partnership Act”.
AR Code § 15-4-3402 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 34 - Regional Economic Development Partnership Act|§ 15-4-3402. Legislative intent

 The General Assembly finds that:   (1) The support of regional economic development efforts is vital to the economic health and vitality of the state;  (2) In order to increase the income of Arkansans at a growth pace greater than the national average and to compete more effectively in the global marketplace for new business and jobs, the state must invest in innovative economic development strategies;  (3) The economy of the state varies significantly, and effective policies and programs must be customized to take advantage of resources and strengths within a particular region;  (4) New economic development strategies will meet the special needs and take advantage of the extraordinary assets of particular regions of the state instead of relying on a single approach;  (5) When economically feasible, the state should assist regional public and private efforts to promote economic development by providing state funds to share the cost of eligible marketing and promotional expenses associated with implementing a regional strategic plan; and  (6) The Governor's Strategic Plan for Economic Development is focused on increasing the capacity of a region of Arkansas to participate in economic development.
AR Code § 15-4-3403 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 34 - Regional Economic Development Partnership Act|§ 15-4-3403. Definitions

 As used in this subchapter:   (1) “Economic development region” means a group of municipalities or counties that:  (A) Includes at least two (2) counties; and  (B) Has formed a regional economic development partnership;    (2) “In-kind contributions” means items given to a regional economic development partnership, including without limitation donated office space, equipment, staff, and other items specifically approved by the Arkansas Economic Development Commission; and  (3) “Regional economic development partnership” means an organization whose mission is to promote specific regions within the state in accordance with the intent described under § 15-4-3402.
AR Code § 15-4-3404 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 4 - Development Of Business And Industry Generally|Subchapter 34 - Regional Economic Development Partnership Act|§ 15-4-3404. Regional economic development partnerships — Board of directors

 (a) A regional economic development partnership shall satisfy the following requirements:  (1) The economic development region includes the active participation of at least two (2) contiguous counties;  (2) The economic development region is of adequate size in population to:  (A) Effectively undertake economic development activities while remaining a distinct and viable region for attracting new investment; and  (B) Generate adequate regional resources to provide matching funds; and    (3) The economic development region is economically integrated as determined by:  (A) Commuting patterns;  (B) Economic base;  (C) Major employers;  (D) Membership in a defined metropolitan or micropolitan statistical area; or  (E) Other indicators determined by the Arkansas Economic Development Commission.      (b)  (1) After a regional economic development partnership has been formed, a county may elect to join the regional economic development partnership by adopting an ordinance to that effect.  (2) However, a county that adopts an ordinance under subdivision (b)(1) of this section shall become a member of the regional economic development partnership only upon a majority vote of the members of the board of directors of the regional economic development partnership that are residents of Arkansas.    (c)  (1) A regional economic development partnership formed on or after January 1, 2013, shall be governed by a board of directors that shall operate, manage, and control the regional economic development partnership in all respects.  (2) If a regional economic development partnership is formed on or after January 1, 2013:  (A) The board of directors shall contain at least one (1) representative from each county that is a member of the regional economic development partnership;  (B) The governing body of each county that is a member of the regional economic development partnership shall appoint members of the board of directors; and  (C) A person appointed to the board of directors may be a representative of either a public entity or a private entity.    (3) Each member of the board of directors shall serve for a term as provided under the bylaws of the regional economic development partnership.  (4) The commission may allow an existing entity that applies to be a regional economic development partnership to maintain the entity's existing rules regarding the membership, terms, and duties of the board of directors.  (5) If a regional economic development partnership includes a territory located in another state, regional funding provided under this subchapter shall only be provided to a county in Arkansas.