reglab/housing_qa huggingface dataset:
AR Code § 15-5-1107 (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 11 - Arkansas Capital Access Program for Small Business Act of 1993|§ 15-5-1107. Enrollment of qualified loan — Procedure — Fee — Transfers to loss reserve account

 (a)  (1) When a financial institution participates in the Arkansas Capital Access Program for Small Business or the Arkansas Credit Reserve Program, if the financial institution decides to enroll a qualified loan under the Arkansas Capital Access Program for Small Business or the Arkansas Credit Reserve Program to obtain the protection against loss provided by its loss reserve account, the financial institution shall notify the Arkansas Development Finance Authority of the qualified loan within ten (10) days after the qualified loan is made.  (2) The notification required under subdivision (a)(1) of this section shall be in writing on a form prescribed by the authority.    (b)  (1) When making a qualified loan that will be enrolled under the Arkansas Capital Access Program for Small Business, the financial institution shall require the qualified business to which the qualified loan is made to pay a fee of not less than one and five-tenths percent (1.5%) of the principal amount of the qualified loan but not more than three and five-tenths percent (3.5%) of the principal amount.  (2) When making a qualified loan that will be enrolled under the Arkansas Credit Reserve Program, the financial institution shall require the qualified business to which the qualified loan is made to pay a fee of not less than one percent (1%) of the principal amount of the qualified loan.  (3)  (A) The financial institution shall also pay a fee in an amount equal to the fee paid by the borrower.  (B) However, the financial institution may collect the amount of its fee from the qualified borrower.    (4) The authority and the financial institution shall allow a qualified business to pay the fees required under this subsection using sources other than sources of the qualified business.  (5) The financial institution shall deliver the fees collected under this subsection to the authority for deposit into the loss reserve account for the financial institution.    (c) When depositing fees collected under subsection (b) of this section to the credit of the loss reserve account for a financial institution, the authority shall transfer an amount that is not less than the total amount of the fees paid by the borrower and the financial institution from the Capital Access Fund to the loss reserve account for the financial institution.
AR Code § 15-5-1108 (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 11 - Arkansas Capital Access Program for Small Business Act of 1993|§ 15-5-1108. Claims for reimbursement of losses — Amounts subject to reimbursement

 (a) The Arkansas Development Finance Authority shall establish procedures under which financial institutions participating in the Arkansas Capital Access Program for Small Business or the Arkansas Credit Reserve Program may submit claims for reimbursement for losses incurred as a result of qualified loan defaults.  (b) Costs for which a financial institution may be reimbursed from its loss reserve account include qualified loan principal, accrued interest on the principal, actual and necessary costs of seeking recovery of the principal amount and accrued interest on the principal, and any other related costs.  (c)  (1) A financial institution may seek reimbursement of qualified loan losses before the liquidation of collateral from defaulted qualified loans.  (2) The financial institution shall repay its loss reserve account for any moneys received as reimbursement under this section if the financial institution recovers moneys from the borrower or from the liquidation of collateral for the defaulted qualified loan.
AR Code § 15-5-1109 (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 11 - Arkansas Capital Access Program for Small Business Act of 1993|§ 15-5-1109. Rules

 The Arkansas Development Finance Authority may adopt such rules as it considers necessary to carry out its duties, functions, and powers relating to the Arkansas Capital Access Program for Small Business and the Arkansas Credit Reserve Program.
AR Code § 15-5-1110 (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 11 - Arkansas Capital Access Program for Small Business Act of 1993|§ 15-5-1110. Financial report of Capital Access Fund

 (a) At least annually, the Arkansas Development Finance Authority shall prepare a report conforming to generally accepted accounting principles that describes the financial condition of the Capital Access Fund and describes the results and economic impact of the Arkansas Capital Access Program for Small Business and the Arkansas Credit Reserve Program.  (b) The reports required under this section shall be submitted to the Governor and to the Legislative Council.
AR Code § 15-5-1111 (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 11 - Arkansas Capital Access Program for Small Business Act of 1993|§ 15-5-1111. Arkansas Credit Reserve Program

 The Arkansas Development Finance Authority shall establish the Arkansas Credit Reserve Program within the Arkansas Capital Access Program for Small Business.
AR Code § 15-5-1201 (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 12 - Petroleum Storage Tank Trust Fund Bond Financing Act|§ 15-5-1201. Title

 This subchapter may be known and may be cited as the “Petroleum Storage Tank Trust Fund Bond Financing Act”.
AR Code § 15-5-1202 (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 12 - Petroleum Storage Tank Trust Fund Bond Financing Act|§ 15-5-1202. Purpose

 The purpose of this subchapter is to provide for the benefit of the public an additional method for financing remediation costs and costs of compensating tank owners or operators for third-party claims from the Petroleum Storage Tank Trust Fund. This financing program is made available on terms and conditions prescribed by this subchapter, and it is found and determined that this subchapter is in furtherance of a public purpose and that the duties imposed upon the Arkansas Development Finance Authority in this subchapter are in furtherance of the conservation of the environment and for the protection of the public health, welfare, and safety.
AR Code § 15-5-1203 (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 12 - Petroleum Storage Tank Trust Fund Bond Financing Act|§ 15-5-1203. Definitions

 As used in this subchapter:   (1) “Act” means the Arkansas Development Finance Authority Act, § 15-5-101 et seq.;  (2) “Authority” means the Arkansas Development Finance Authority;  (3) “Bonds” means the Arkansas Development Finance Authority Petroleum Storage Tank Trust Fund revenue bonds or other obligations authorized to be issued or incurred by the authority pursuant to this subchapter and the Arkansas Development Finance Authority Act, §§ 15-5-101 et seq., 15-5-201 et seq., and 15-5-301 et seq.;  (4) “Debt service fund” means the Petroleum Storage Tank Trust Fund Revenue Bond Debt Service Fund and any subaccount of the Petroleum Storage Tank Trust Fund Revenue Bond Debt Service Fund to be established on the books of the authority for the purpose of paying the principal of and interest on the bonds as they come due;  (5) [Repealed.]  (6) “Pledged fees” means the fees collected by the Secretary of the Department of Finance and Administration pursuant to § 8-7-906;  (7) “Reserve fund” means the Petroleum Storage Tank Trust Fund Revenue Bonds Reserve Fund and any subaccount of the Petroleum Storage Tank Trust Fund Revenue Bonds Reserve Fund established on the books of the authority pursuant to this subchapter as a reserve for the payment of the principal or any interest on the bonds;  (8) “Trust fund” means the Petroleum Storage Tank Trust Fund established in the State Treasury pursuant to § 8-7-905; and  (9) “Trust fund act” means the Petroleum Storage Tank Trust Fund Act, § 8-7-901 et seq.
AR Code § 15-5-1204 (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 12 - Petroleum Storage Tank Trust Fund Bond Financing Act|§ 15-5-1204. Issuance of revenue bonds by the authority

 (a)  (1) Upon the request of the Director of the Division of Environmental Quality and based upon an estimate by the Department of Finance and Administration of the pledged fees to be collected, the Arkansas Development Finance Authority may issue bonds for the purpose of:  (A) Providing money for the Petroleum Storage Tank Trust Fund; and  (B) Paying the cost of issuing the bonds and establishing the Petroleum Storage Tank Trust Fund Revenue Bonds Reserve Fund, if necessary.    (2) The money in the Petroleum Storage Tank Trust Fund shall be used as provided in the Petroleum Storage Tank Trust Fund Act, § 8-7-901 et seq.    (b)  (1) The bonds are special obligations payable only from:  (A) The pledged fees collected by the Secretary of the Department of Finance and Administration pursuant to § 8-7-906;  (B) The amounts on deposit in the Petroleum Storage Tank Trust Fund Revenue Bond Debt Service Fund and the Petroleum Storage Tank Trust Fund Revenue Bonds Reserve Fund, if any; and  (C) The investment income on the amounts in the Petroleum Storage Tank Trust Fund, the Petroleum Storage Tank Trust Fund Revenue Bond Debt Service Fund, and the Petroleum Storage Tank Trust Fund Revenue Bonds Reserve Fund.    (2) The bonds do not constitute an indebtedness of the state as prohibited by the Arkansas Constitution.    (c)  (1)  (A) Bonds issued under this subchapter shall be authorized by resolution of the Board of Directors of the Arkansas Development Finance Authority and shall have the form and characteristics and bear the designations as are provided in the resolution and permitted under 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.  (B) The resolution may include such provisions and covenants as the board determines necessary.    (2) The board may approve and have executed any other proceedings, agreements, trust agreements, or other instruments necessary and convenient to the issuance of the bonds.
AR Code § 15-5-1205 (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 12 - Petroleum Storage Tank Trust Fund Bond Financing Act|§ 15-5-1205. Petroleum Storage Tank Trust Fund Revenue Bond Debt Service Fund — Pledged fees

 (a)  (1) The debt service on the bonds shall be secured by a lien on and pledge of the petroleum environmental assurance fee established by § 8-7-906.  (2) The pledging of such fees is authorized.    (b) Commencing on the first day of the month next succeeding the issuance of bonds by the Arkansas Development Finance Authority, the pledged fees are specifically declared to be cash funds restricted in their use and dedicated and to be used solely as provided and authorized in this subchapter, 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, and the Petroleum Storage Tank Trust Fund Act, § 8-7-901 et seq.  (c)  (1) Commencing on the first day of the month next succeeding the issuance of bonds by the authority, the pledged fees shall not be deposited into the State Treasury and shall not be subject to legislative appropriations, but, as received by the Secretary of the Department of Finance and Administration or the Treasurer of State, shall be deposited into a bank or banks selected by the authority and approved by the Treasurer of State.  (2) The pledged fees shall be deposited to the credit of a fund established on the books of the authority created and designated as the “Petroleum Storage Tank Trust Fund Revenue Bond Debt Service Fund”.    (d)  (1) There is established on the books of the authority a reserve fund to be known as the “Petroleum Storage Tank Trust Fund Revenue Bonds Reserve Fund”.  (2) The Petroleum Storage Tank Trust Fund Revenue Bonds Reserve Fund shall be funded from the proceeds of the bonds and shall be held and used to ensure prompt payment of debt service on the bonds in such a manner and pursuant to such conditions as may be specified by the authority in the resolution or trust indenture authorizing or securing the bonds.
AR Code § 15-5-1206 (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 12 - Petroleum Storage Tank Trust Fund Bond Financing Act|§ 15-5-1206. Petroleum Storage Tank Trust Fund Revenue Bond Debt Service Fund — Payment of debt service — Tax exemption

 (a) Payment of principal and interest on the bonds shall be paid from the Petroleum Storage Tank Trust Fund Revenue Bond Debt Service Fund when due.  (b) If and so long as all payments of debt service are properly made, on the last day of each fiscal quarter the pledged fees remaining in the Petroleum Storage Tank Trust Fund Revenue Bond Debt Service Fund in excess of a reserve of two (2) months' requirements of debt service shall be withdrawn from the Petroleum Storage Tank Trust Fund Revenue Bond Debt Service Fund and deposited into the Petroleum Storage Tank Trust Fund as special revenues.  (c) The interest on the bonds shall be exempt from state, county, and municipal income, inheritance, and estate taxes.
AR Code § 15-5-1207 (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 12 - Petroleum Storage Tank Trust Fund Bond Financing Act|§ 15-5-1207. Expiration of subchapter

 The provisions of this subchapter shall expire upon payment of all principal and accrued interest due on the bonds and any refunding bonds issued.
AR Code § 15-5-1208 (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 12 - Petroleum Storage Tank Trust Fund Bond Financing Act|§ 15-5-1208. Refunding bonds

 (a) The Arkansas Development Finance Authority may provide by resolution for the issuance of refunding bonds to refund outstanding bonds issued under this subchapter and accrued interest on those bonds.  (b) The authority may sell the refunding bonds and use the proceeds to retire the outstanding bonds issued under this subchapter, exchange the refunding bonds for the outstanding bonds, or refund the bonds in the manner provided by any other applicable statute.
AR Code § 15-5-1209 (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 12 - Petroleum Storage Tank Trust Fund Bond Financing Act|§ 15-5-1209. Eligible security

 The bonds are eligible to secure deposits of public funds of the state and cities, counties, school districts, districts, authorities, and other political subdivisions of the state.
AR Code § 15-5-1210 (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 12 - Petroleum Storage Tank Trust Fund Bond Financing Act|§ 15-5-1210. Subchapter cumulative of other laws

 This subchapter is cumulative of other laws on the subject and the Arkansas Development Finance Authority may use provisions of other applicable laws in the issuance of bonds and other obligations, but this subchapter is wholly sufficient authority for the issuance of bonds and the performance of all other acts and procedures authorized by this subchapter.
AR Code § 15-5-1301 (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 13 - Affordable Neighborhood Housing Tax Credit Act of 1997|§ 15-5-1301. Title

 This subchapter shall be known and may be cited as the “Affordable Neighborhood Housing Tax Credit Act of 1997”.
AR Code § 15-5-1304 (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 13 - Affordable Neighborhood Housing Tax Credit Act of 1997|§ 15-5-1304. Tax credits authorized — Amount allowed annually — Exceeded when — Upper limits set — Carryover permitted

 (a)  (1) For proposals approved under § 15-5-1303, the amount of the tax credit shall not exceed thirty percent (30%) of the total amount invested in affordable housing assistance activities by a business firm.  (2) Any tax credit not used in the period for which the credit was approved may be carried forward to any of the five (5) subsequent taxable years until the full credit has been allowed.  (3) The total amount of tax credits granted for programs approved under § 15-5-1303 shall not exceed seven hundred fifty thousand dollars ($750,000) in any taxable year.  (4) For taxable year 1997, at least one-half (½) of the tax credits shall be designated by the Arkansas Development Finance Authority to the affordable housing assistance activities in counties declared disaster areas by the Governor.    (b)  (1) For any year during the compliance period indicated in the land-use restriction agreement, the owner of the rental affordable housing units for which a credit is being claimed shall certify to the authority that all tenants renting claimed affordable housing units are income-eligible for the affordable housing units and that the rentals for each claimed affordable housing unit are affordable in compliance with the provisions of § 15-5-1302.  (2) The authority is authorized, in its discretion, to audit the records and the accounts of the owner to verify the certification.    (c)  (1) In the case of owner-occupied affordable housing units, the qualifying owner-occupant, before the end of the first year in which credits are claimed, shall certify to the authority that the occupant is income eligible during the preceding two (2) years and at the time of the initial purchase contract, but not thereafter.  (2) The qualifying owner-occupant shall further certify to the authority before the end of the first year in which credits are claimed that during the compliance period indicated in the land-use restriction agreement, the cost of the affordable housing unit to the occupant for the claimed affordable housing unit can reasonably be projected to be in compliance with the provisions of § 15-5-1302.  (3) Any succeeding owner-occupant acquiring the affordable housing unit during the compliance period indicated in the land-use restriction agreement shall make the same certification.
AR Code § 15-5-1305 (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 13 - Affordable Neighborhood Housing Tax Credit Act of 1997|§ 15-5-1305. Rules

 The Secretary of the Department of Finance and Administration and the Arkansas Development Finance Authority shall promulgate rules necessary to administer the provisions of this subchapter. No rule or portion of a rule promulgated under the authority of this subchapter shall become effective until it has been approved by the secretary in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq.
AR Code § 15-5-1401 (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 14 - Venture Capital Investment Act of 2001|§ 15-5-1401. Title

 This subchapter shall be known and may be cited as the “Venture Capital Investment Act of 2001”.
AR Code § 15-5-1402 (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 14 - Venture Capital Investment Act of 2001|§ 15-5-1402. Purpose

 The State of Arkansas desires to increase the availability of equity and near-equity capital for emerging, expanding, relocating, and restructuring enterprises in the state. Such investments will help strengthen the state's economic base and create jobs.