reglab/housing_qa huggingface dataset:
AR Code § 15-5-605 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 6 - Allocation of State Ceiling|§ 15-5-605. Special rules for allocation of volume cap for multifamily residential housing bonds

 (a) Notwithstanding § 15-5-604(c), the priority allocation of volume cap to multifamily residential housing bonds, whether the bonds are issued by the Arkansas Development Finance Authority or by any other issuer, shall not be determined based solely on the date of the reservation filing.  (b) Multifamily residential housing bonds shall be granted a priority based upon the decision of the authority in accordance with rules establishing criteria to determine priority for multifamily residential housing bonds.  (c) The rules may provide for the priority of the allocation to be based upon:  (1) The need for multifamily residential housing in the particular area of the state in which the project is to be located;  (2) The characteristics of the proposed project; and  (3) Any other factors as determined necessary by the authority.    (d) The authority shall promulgate rules to establish criteria to determine priority for multifamily residential housing bonds in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq.
AR Code § 15-5-606 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 6 - Allocation of State Ceiling|§ 15-5-606. Balance of state ceiling — Carryforwards

 (a)  (1)  (A) Volume cap that has not been allocated by the end of the calendar year may be allocated by the President of the Arkansas Development Finance Authority for one (1) or more carryforward purposes, and the issuer receiving such allocation shall carry forward the allocation of volume cap in the manner described in subdivision (a)(2) of this section.  (B)  (i) Volume cap that has been allocated prior to the end of the calendar year to another issuer by the Arkansas Development Finance Authority but as to which no bonds have been issued may be carried forward only upon the approval of the president.  (ii) The issuer seeking to carry forward an allocated volume cap must request the written permission of the president.  (iii) The president may require the issuer to submit such information as he or she deems necessary to determine if approval of the request should be granted.  (iv) If the president approves the carryforward request, permission to carry forward the volume cap shall be evidenced by a letter from the president, and the issuer shall carry forward the volume cap in the manner described in subdivision (a)(2) of this section.  (v) If the president does not approve the carryforward request, the allocation shall be deemed to have expired as of the end of the calendar year, and the volume cap related to the expired allocation may be allocated by the president as set forth in subdivision (a)(1)(A) of this section.      (2)  (A) In order to carry forward volume cap allocated pursuant to subdivision (a)(1)(A) or subdivision (a)(1)(B) of this section, the issuer, whether such issuer is the authority or another issuer, must make a valid carryforward election statement under the provisions of federal tax law.  (B) The carryforward election statement must set forth the information required and must be filed at the place, in the manner, and by the date required for timely filing of a carryforward election statement under federal tax law as set forth in any federal statute, or in any regulation or published notice or ruling of the Internal Revenue Service.    (3) A copy of any federal carryforward election statement shall be filed with the president at the same time it is filed with the Internal Revenue Service.    (b) Carryforwards elected with respect to any purpose shall be used in order of the calendar years in which they arose. Carryforward purposes shall be those permitted by 26 U.S.C. § 146(f)(5).  (c)  (1) Carryforwards previously elected with respect to any purpose pursuant to the provisions of § 4 of the Proclamation of the Governor dated November 30, 1986, for the calendar year ending December 31, 1986, are ratified and confirmed.  (2) Carryforwards elected prior to January 2, 2007, with respect to any purpose pursuant to the provisions of the law then in effect are ratified and confirmed.
AR Code § 15-5-607 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 6 - Allocation of State Ceiling|§ 15-5-607. Records of filings

 (a) The Arkansas Development Finance Authority shall maintain continuous cumulative records of the filings made under this subchapter.  (b) For such a purpose, the filings under this subchapter shall be dated and numbered by the President of the Arkansas Development Finance Authority in the order made.  (c) The president shall attempt to accept filings in the order in which completed applications are received.
AR Code § 15-5-608 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 6 - Allocation of State Ceiling|§ 15-5-608. Acceptable forms

 Filings made under this subchapter and notice of issuance of bonds given under this subchapter and carryforward elections shall be substantially in the forms established by the Arkansas Development Finance Authority.
AR Code § 15-5-609 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 6 - Allocation of State Ceiling|§ 15-5-609. Filing fee

 The Arkansas Development Finance Authority may charge each issuer of affected bonds a filing fee for establishing its compliance with the Internal Revenue Code, 26 U.S.C. § 1 et seq., by appropriate resolution of the authority and may modify its filing fee from time to time by subsequent resolution of the authority.
AR Code § 15-5-610 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 6 - Allocation of State Ceiling|§ 15-5-610. Allocation of 2008 Housing Act Volume Cap

 (a) The 2008 Housing Act Volume Cap shall be allocated one hundred percent (100%) to the Arkansas Development Finance Authority to finance qualified housing issues.  (b) The authority may carry forward the 2008 Housing Act Volume Cap as provided in 26 U.S.C. § 146(f)(6), as in effect on January 1, 2009.  (c) The authority, by resolution of the Board of Directors of the Arkansas Development Finance Authority, may assign any portion of the 2008 Housing Act Volume Cap to one (1) or more other bond issuers in the state for the purpose of financing qualified housing issues.
AR Code § 15-5-701 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 7 - Arkansas Development Finance Authority Small Business Act of 1989|§ 15-5-701. Title

 This subchapter may be referred to and cited as the “Arkansas Development Finance Authority Small Business Act of 1989”.
AR Code § 15-5-704 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 7 - Arkansas Development Finance Authority Small Business Act of 1989|§ 15-5-704. Duty of authority

 The Arkansas Development Finance Authority, in addition to all the duties and functions defined in the Arkansas Development Finance Authority Act, §§ 15-5-101 — 15-5-106, 15-5-201 — 15-5-211, 15-5-213, and 15-5-301 — 15-5-316, is empowered to approve or deny by majority vote of the Board of Directors of the Arkansas Development Finance Authority the applications for direct loans and guaranties of obligations and qualified investments, except that, at the discretion of the board, approvals for loans up to any limit the board shall specify may be approved by the Small Business Loan Committee. The committee shall report all such actions taken at the next meeting of the board.
AR Code § 15-5-705 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 7 - Arkansas Development Finance Authority Small Business Act of 1989|§ 15-5-705. Funding or guarantee of loans — Conditions

 (a) Loans may be guaranteed when:  (1) The Arkansas Development Finance Authority deems the utilization of a loan guaranty in the best interest of the economic development of the State of Arkansas;  (2) The amount in the Small Business Revolving Loan Fund, excluding the unpaid portion of any direct loan made from the fund in accordance with subsection (b) of this section, is sufficient to pay current calendar debt service requirements on all guaranteed loans currently outstanding plus the loan to be guaranteed;  (3) The small-business person is found to be financially responsible and demonstrates that sufficient income may reasonably be expected to be available to pay as they come due the amortization payments of the loan and all normal operating expenses of the business; and  (4)  (A) A financial institution agrees to participate in the financing package necessary to accomplish the project.  (B) Participation may range from ten percent (10%) to fifty percent (50%) depending upon the project and the requirement for funding.      (b) A direct loan may be made by the authority from the fund when:  (1) The authority deems the making of a direct loan to be in the best interest of the economic development of the State of Arkansas;  (2) The small-business person is found to be financially responsible and demonstrates that sufficient income may be reasonably expected to be available to pay as they come due the amortization payments on the loan and the normal operating expenses of the business; and  (3) The assets remaining in the fund, excluding the unpaid portion of any direct loan held by the fund, shall not be reduced by the making of the loan to an amount less than is required by subdivision (a)(2) of this section for all then-outstanding guaranteed loans.    (c) In all events, the authority shall not make direct loans to small business persons which, in the aggregate, exceed at any one (1) time thirty percent (30%) of the total assets, including the unpaid portion of all direct loans made from the fund, of the fund.
AR Code § 15-5-706 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 7 - Arkansas Development Finance Authority Small Business Act of 1989|§ 15-5-706. Evaluation of small-business persons

 (a) The Arkansas Development Finance Authority shall promulgate standards and rules for the evaluation of the financial condition and business history of the small-business person and may require the attachment to each application for a loan or guaranty or qualified investment under this subchapter of a financial report and evaluation by an independent certified public accountant firm in addition to such examination and evaluation as the authority may make in determining whether the small-business person meets prescribed minimum standards and qualifications before entering into any guaranty under this subchapter.  (b) The authority may also promulgate rules for the handling of disbursements from and payments to the Small Business Revolving Loan Fund and the Direct Fund and for the management and implementation of programs provided in this subchapter, specifically including the establishment of amounts to be made available for small businesses in rural areas.
AR Code § 15-5-708 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 7 - Arkansas Development Finance Authority Small Business Act of 1989|§ 15-5-708. Applications — Supporting documents

 Each small-business person requesting a loan or guaranty or qualified investment under this subchapter shall submit to the Arkansas Development Finance Authority an application, supporting documents, and instruments as may be required by the rules promulgated by the authority pursuant to this subchapter and approved by a majority vote of the Board of Directors of the Arkansas Development Finance Authority.
AR Code § 15-5-709 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 7 - Arkansas Development Finance Authority Small Business Act of 1989|§ 15-5-709. Applications — Review — Confidentiality and public disclosure — Notice

 (a) All applications filed with the Arkansas Development Finance Authority under the provisions of this subchapter shall first be reviewed by the appropriate designated staff officials of the authority or by a committee consisting of members of the Board of Directors of the Arkansas Development Finance Authority for preliminary review and recommendation prior to being submitted for consideration by the authority.  (b) All applications submitted to the authority and all supporting documents, instruments, proposed contracts, estimated costs, or other evidence submitted therewith shall be confidential and shall not be open to public review except as provided in this section, and all staff meetings or meetings of the review committee of members of the authority established for the purpose of giving preliminary review of such applications shall be confidential and shall not be open to the public.  (c) Upon conclusion of the preliminary review of each request under this subchapter, if the request is submitted to the authority with a recommendation that it be approved, the application and all supporting documents, including the findings and the recommendations resulting from the staff or review committee thereof, shall be an open public record available for inspection during all regular business hours.  (d) In the event that an application from a small-business person under this subchapter is not recommended for approval by the authority under this subchapter, that application and all supporting documents, including all findings and recommendations in regard thereto by the staff or review committee, shall continue to be confidential and not open to public inspection.  (e)  (1) The small-business person shall be notified in writing of any staff or review committee determination that the application is not being submitted to the authority with a recommendation that it be approved.  (2) The notice shall advise the small-business person that the application will be kept confidential unless within thirty (30) days from the date of receipt of the written notice the small-business person files a petition with the authority requesting that the authority hold a hearing in regard to the application. In that event, the application and all supporting documents shall become public information available for public inspection.    (f) The membership of a review committee, when acting in that capacity, shall never be considered to constitute a quorum of the board for the purpose of approving an application for guaranty under this subchapter.
AR Code § 15-5-710 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 7 - Arkansas Development Finance Authority Small Business Act of 1989|§ 15-5-710. Liability of authority's members and staff

 No provision of §§ 15-5-708 and 15-5-709 shall be interpreted to create any private right against any member of the Arkansas Development Finance Authority or any member of the staff thereof.
AR Code § 15-5-711 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 7 - Arkansas Development Finance Authority Small Business Act of 1989|§ 15-5-711. Grants to fund

 The Arkansas Development Finance Authority may accept grants to its Small Business Revolving Loan Fund and its Direct Fund from any source.
AR Code § 15-5-712 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 7 - Arkansas Development Finance Authority Small Business Act of 1989|§ 15-5-712. Power to make grants and loans

 The Arkansas Development Finance Authority may make grants, direct loans, or loan guaranties to:   (1) New or existing:  (A) Title IX revolving loan funds;  (B) Small business investment companies; and  (C) Specialized small business investment companies;    (2) The Division of Minority and Women-owned Business Enterprise of the Arkansas Economic Development Commission;  (3) A certified community development financial institution under the Riegle Community Development and Regulatory Improvement Act of 1994, Pub. L. No. 103-325; and  (4) An entrepreneur as described in the Entrepreneur Fee Waiver Pilot Program under § 15-5-714.
AR Code § 15-5-713 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 7 - Arkansas Development Finance Authority Small Business Act of 1989|§ 15-5-713. Funding of qualified investments

 (a) The Arkansas Development Finance Authority may approve the use of funds for qualified investments upon such terms and conditions and for such periods of time as shall be recommended by the President of the Arkansas Development Finance Authority and approved by the Board of Directors of the Arkansas Development Finance Authority from:  (1) Cash funds held by the authority; and  (2) The Venture Capital Investment Trust.    (b) The board shall not approve a qualified investment that:  (1) Does not further the purposes of this subchapter; and  (2) Is not in the best interest of the state.
AR Code § 15-5-714 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 7 - Arkansas Development Finance Authority Small Business Act of 1989|§ 15-5-714. Entrepreneur Fee Waiver Pilot Program — Definition

 (a) There is created a program to be known as the “Entrepreneur Fee Waiver Pilot Program”.  (b) The program shall be developed, implemented, and administered by the Arkansas Development Finance Authority.  (c) The purpose of the program is to encourage and assist entrepreneurs by providing a waiver of state filing fees, state permit fees, or state licensing fees associated with the formation of a small business in this state.  (d) As used in this section, “entrepreneur” means an individual starting a small business and who meets the eligibility criteria established by the authority for the program.  (e) The authority shall promulgate rules in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq., to establish criteria for the review and approval of applications for the program.  (f) A entrepreneur shall apply to the authority, using the form prescribed by the authority, before the formation of the small business for which the entrepreneur seeks waiver of the state filing fees, state permit fees, or state licensing fees.  (g) Any waivers or vouchers under this section shall be provided in the manner determined by the authority.  (h) The total amount waived by the authority under this section shall not exceed five hundred thousand dollars ($500,000) per fiscal year.  (i) The Secretary of State shall provide notice of the program to an entrepreneur filing for the formation of a small business in this state.
AR Code § 15-5-902 (2020)
2020 Arkansas Code|Title 15 - Natural Resources and Economic Development|Subtitle 1 - Development Of Economic And Natural Resources Generally|Chapter 5 - Arkansas Development Finance Authority|Subchapter 9 - Construction Assistance Revolving Loans|§ 15-5-902. Fund — Administration

 (a)  (1) The Construction Assistance Revolving Loan Fund shall be administered by the Arkansas Natural Resources Commission.  (2) The commission may establish procedures and adopt rules required to administer the fund and programs financed, in whole or in part, with moneys in the fund in accordance with federal or state law providing for:  (A) Wastewater systems, water systems, solid and hazardous waste facilities, recycling facilities, nonpoint source management facilities, wetlands conservation and management facilities, and other environmental projects; and  (B) Assessments, investigations, and remedial actions with respect to abandoned industrial, commercial, or agricultural sites, including without limitation the federal environmental acts.      (b) The commission may enter into contracts and other agreements in connection with the operation of the fund, including without limitation contracts and agreements with federal agencies, local governmental entities, the Arkansas Development Finance Authority, the Division of Environmental Quality, and other persons to the extent necessary or convenient for the implementation of the fund and programs financed, in whole or in part, with moneys in the fund.  (c) The commission shall maintain full authority for the operation of the fund in accordance with applicable federal and state law, including withdrawals necessary to achieve the intended purposes of the fund.  (d) To the extent that moneys provided by the United States Government under the federal environmental acts and nonappropriated state matches do not designate the account into which the moneys shall be deposited, the moneys shall be deposited into the accounts within the fund designated by the commission.  (e) The commission shall execute capitalization grant agreements on behalf of the state in order to obtain funds under the Clean Water Act.