reglab/statecodes huggingface dataset:
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 25 - SMALL BUSINESS LOAN COLLABORATION PROGRAM (§§ 15-4-2501 — 15-4-2506) › Section 15-4-2501 - Definitions

As used in this subchapter:
(1)
"Commission" means the Arkansas Economic Development Commission;
(2)
"Community lender" means any organization that is involved in making loans to small businesses within this state;
(3)
"Council" means the Arkansas Economic Development Council;
(4)
[Repealed.]
(5)
(A)
"High unemployment" means an unemployment rate equal to or greater than one hundred fifty percent (150%) of the state's average unemployment rate for the preceding calendar year as specified by statewide annual labor force statistics compiled by the Division of Workforce Services, when the state's annual average unemployment is six percent (6%) or lower.
(B)
However, when the state's unemployment rate is above six percent (6%), "high unemployment" means unemployment equal to or greater than three percent (3%) above the state's average unemployment rate for the preceding calendar year as specified by statewide annual labor force statistics compiled by the division;
(6)
"Small business" means business enterprises with fewer than fifty (50) full-time employees and less than one million dollars ($1,000,000) in annual gross sales or receipts; and
(7)
"Small-business person" means an individual, firm, partnership, limited liability company, corporation, or any other business entity in any form that owns and operates a small business.
Amended by Act 2019, No. 910,§ 390, eff. 7/1/2019.
Amended by Act 2019, No. 910,§ 389, eff. 7/1/2019.
Acts 2001, No. 913, § 2; 2005, No. 892, § 1.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 25 - SMALL BUSINESS LOAN COLLABORATION PROGRAM (§§ 15-4-2501 — 15-4-2506) › Section 15-4-2502 - Fifty-percent loan subsidy program

(a)
The Arkansas Economic Development Commission shall institute a program to make participation loans that are originated by approved community lenders for small businesses in this state.
(b)
The commission's participating share of any qualified loan shall not exceed fifty percent (50%) of the total loan amount, and the commission's share shall be in an amount not less than two thousand five hundred dollars ($2,500) and not more than forty thousand dollars ($40,000).
(c)
The commission shall share on a pari passu basis with the originating community lender all collateral, guarantees, repayments, and recoveries on loans made in this program.
(d)
The commission shall give preference to high-unemployment counties.
Acts 2001, No. 913, § 3.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 25 - SMALL BUSINESS LOAN COLLABORATION PROGRAM (§§ 15-4-2501 — 15-4-2506) › Section 15-4-2503 - Lender application - Approval

(a)
Any community lender that desires to seek participating loans from the Arkansas Economic Development Commission pursuant to the program authorized by this subchapter shall make application to the commission.
(b)
Approval of any participating community lender shall be done by action of the Arkansas Economic Development Council.
Acts 2001, No. 913, § 4.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 25 - SMALL BUSINESS LOAN COLLABORATION PROGRAM (§§ 15-4-2501 — 15-4-2506) › Section 15-4-2504 - Supporting documents

Each community lender requesting a participating loan shall submit to the Arkansas Economic Development Commission an application, supporting documents, and instruments as may be required by the rules promulgated by the commission.
Amended by Act 2019, No. 315,§ 1071, eff. 7/24/2019.
Acts 2001, No. 913, § 5.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 25 - SMALL BUSINESS LOAN COLLABORATION PROGRAM (§§ 15-4-2501 — 15-4-2506) › Section 15-4-2505 - Duty to seek collaboration

The Arkansas Economic Development Commission shall:
(1)
Actively seek support from and collaboration with statewide financial institutions, the Arkansas Credit Union League, United States Small Business Administration, Arkansas Bankers Association, Arkansas Development Finance Authority, and other agencies interested in supporting small business efforts in the state; and
(2)
Provide small business persons with:
(A)
Assistance and resources for preparation of business plans available through the commission and other agencies;
(B)
Information about services available through the commission;
(C)
Information about financial institutions and agencies that have agreed to support and collaborate with the program authorized by this subchapter;
(D)
Continuing assistance after a loan is made; and
(E)
Information on training programs or technical assistance to include instructions on the importance of establishing and maintaining credit, seeking and obtaining state licenses and contracts, and business planning and management.
Acts 2001, No. 913, § 6.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 25 - SMALL BUSINESS LOAN COLLABORATION PROGRAM (§§ 15-4-2501 — 15-4-2506) › Section 15-4-2506 - Rules

The Arkansas Economic Development Commission shall promulgate rules to implement this subchapter.
Amended by Act 2019, No. 315,§ 1072, eff. 7/24/2019.
Acts 2001, No. 913, § 7.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 27 - CONSOLIDATED INCENTIVE ACT OF 2003 (§§ 15-4-2701 — 15-4-2714) › Section 15-4-2701 - Legislative intent

(a)
The General Assembly recognizes that job creation and capital investment in Arkansas are dependent upon being competitive with other states for business locations and expansions.
(b)
Acts 2001, No. 757, authorized the Bureau of Legislative Research to conduct a study of business development incentives in Arkansas and in states with which Arkansas frequently competes for business locations.
(c)
This subchapter incorporates many of the findings of that study in an effort to make our state more competitive for the creation of new and better jobs for the citizens of Arkansas.
Acts 2003, No. 182, § 1.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 27 - CONSOLIDATED INCENTIVE ACT OF 2003 (§§ 15-4-2701 — 15-4-2714) › Section 15-4-2702 - Title

This subchapter shall be known and may be cited as the "Consolidated Incentive Act of 2003".
Acts 2003, No. 182, § 1.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 27 - CONSOLIDATED INCENTIVE ACT OF 2003 (§§ 15-4-2701 — 15-4-2714) › Section 15-4-2704 - Tier system

(a)
The Arkansas Economic Development Commission shall establish a tier system that shall rank all seventy-five (75) counties of this state into four (4) divisions on the basis of economic prosperity.
(b)
Tier 4 shall be the least prosperous division and tier 1 shall be the most prosperous division.
(c)
The assignment of a county to a tier shall be based on a ranking of:
(1)
Unemployment rate;
(2)
Poverty rate;
(3)
Per capita personal income; and
(4)
Population change.
(d)
The commission shall:
(1)
Update ranking statistics annually; and
(2)
Place counties into tiers based on the updated statistics.
(e)
(1)
A county that has experienced a sudden and severe period of economic distress caused by a closure of one (1) or more businesses or a mass layoff at one (1) or more businesses, or both, as documented by notice provided under the Worker Adjustment and Retraining Notification Act,
29 U.S.C. § 2101
et seq., as it existed on January 1, 2019, that results in the loss of a minimum of five percent (5%) of the county's employed labor force may be moved down one (1) tier upon written request by the county judge of the affected county and approval by the Director of the Arkansas Economic Development Commission.
(2)
The five-percent threshold stated in subdivision (e)(1) of this section shall be evidenced by calculating the highest percentage difference in employment between the county's:
(A)
Current monthly, not seasonally, adjusted total employed labor force; and
(B)
Each of the following:
(i)
The previous monthly, not seasonally, adjusted total employed labor force;
(ii)
The most recent annually, not seasonally, adjusted total employed labor force; or
(iii)
The monthly, not seasonally, adjusted total employed labor force for the same month of the previous year.
(3)
If the director approves a county's move to a higher tier, a qualified business that has signed a financial incentive agreement with the commission dated before the director's action shall receive the incentives that were assigned to the county to which it located at the time the financial incentive agreement was signed, regardless of any subsequent change to the tier.
(4)
A tier increase approved under this subsection remains in effect until the annual tier rankings are updated under subsection (d) of this section.
Amended by Act 2019, No. 327,§ 1, eff. 7/24/2019.
Amended by Act 2019, No. 910,§ 398, eff. 7/1/2019.
Acts 2003, No. 182, § 1; 2005, No. 1296, § 2.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 27 - CONSOLIDATED INCENTIVE ACT OF 2003 (§§ 15-4-2701 — 15-4-2714) › Section 15-4-2710 - Powers and duties of the Arkansas Economic Development Commission

The Arkansas Economic Development Commission shall administer this subchapter and in addition to powers and duties mentioned in other laws may:
(1)
Promulgate rules in accordance with the Arkansas Administrative Procedure Act, §
25-15-201
et seq., necessary to carry out the provisions of this subchapter;
(2)
Provide the Department of Finance and Administration with a copy of each financial incentive agreement entered into by the commission with each qualified business;
(3)
Assist the governing authority in obtaining assistance from any other agency of state government, including assistance to new businesses and industries;
(4)
Assist any employer or prospective employer with a qualifying project in obtaining the benefits of any incentive or inducement program authorized by state law;
(5)
Act as a liaison between other state agencies and businesses and industries to ensure that both the spirit and intent of this subchapter are met;
(6)
Make disbursements from the Economic Development Incentive Fund to qualified businesses as authorized in §
15-4-2707
; and
(7)
Negotiate proposals on behalf of the state with prospective businesses that are considering locating new facilities or expanding existing facilities that would seek the incentives of the discretionary programs under this subchapter.
Amended by Act 2019, No. 315,§ 1075, eff. 7/24/2019.
Amended by Act 2019, No. 327,§ 1, eff. 7/24/2019.
Acts 2003, No. 182, § 1; 2009, No. 716, § 11.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 27 - CONSOLIDATED INCENTIVE ACT OF 2003 (§§ 15-4-2701 — 15-4-2714) › Section 15-4-2714 - [Repealed]

Repealed by Act 2019, No. 327,§ 2, eff. 7/24/2019.
Amended by Act 2017, No. 374,§ 9, eff. 8/1/2017.
Acts 2003, No. 182, § 1; 2005, No. 1962, § 62.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 28 - BIODIESEL INCENTIVE ACT (§§ 15-4-2801 — 15-4-2805) › Section 15-4-2801 - Title

This subchapter shall be known and may be cited as the "Biodiesel Incentive Act".
Acts 2003, No. 1287, § 1.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 28 - BIODIESEL INCENTIVE ACT (§§ 15-4-2801 — 15-4-2805) › Section 15-4-2802 - Definitions

As used in this subchapter:
(1)
"Biodiesel fuel" means a diesel fuel substitute produced from nonpetroleum renewable resources that meets the registration requirements for fuels and fuel additives established under the Energy Policy Act of 1992,
42 U.S.C. §§ 13211-13219
, as in effect on January 1, 2005;
(2)
"Biodiesel mixture" means a mixture of biodiesel fuel and undyed, clear distillate special fuel that is suitable for use in motor vehicles on Arkansas highways and determined without regard to any use of kerosene that is:
(A)
Sold by the supplier producing biodiesel mixture to any person for use as a fuel; or
(B)
Used as a fuel by the supplier producing the biodiesel mixture;
(3)
"Biodiesel producer" means a business located in the State of Arkansas that uses agricultural crops, agricultural residues, or waste products, excluding recycled oils, to manufacture biodiesel fuel; and
(4)
"Supplier" means any person who:
(A)
Is customarily in the wholesale business of offering distillate special fuels or liquefied gas special fuels for resale or use to any person in this state; and
(B)
Makes bulk sales of fuel.
Amended by Act 2015, No. 1149,§ 1, eff. 7/22/2015.
Acts 2003, No. 1287, § 1; 2005, No. 2223, § 1.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 28 - BIODIESEL INCENTIVE ACT (§§ 15-4-2801 — 15-4-2805) › Section 15-4-2803 - Tax credit for biodiesel suppliers

(a)
There shall be allowed a credit against the income tax imposed by the Income Tax Act of 1929, §
26-51-101
et seq., in an amount as determined in subsection (b) of this section to a biodiesel supplier for the cost of the facilities and equipment used directly in the wholesale or retail distribution of biodiesel fuels.
(b)
The amount of the credit allowed shall be equal to five percent (5%) of the cost of the facilities and equipment.
(c)
The costs of service contracts, sales tax, or acquisition of undeveloped land shall not be included in determining the amount of the credit.
(d)
(1)
No income tax credit shall be claimed by a supplier for any facility or equipment that is in use on or before the certification of the company for tax credits or for which a tax credit was previously claimed by a supplier for any other tax year.
(2)
The provisions of this subsection shall not apply if any entity is sold and the entity is entitled to an income tax credit under this subchapter.
(3)
The tax credit provided in subsection (b) of this section may be carried forward for a period not to exceed three (3) years.
Amended by Act 2013, No. 1149,§ 2, eff. 8/16/2013.
Acts 2003, No. 1287, § 1; 2005, No. 2223, § 2; 2006 (1st Ex. Sess.), No. 10, § 1.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 28 - BIODIESEL INCENTIVE ACT (§§ 15-4-2801 — 15-4-2805) › Section 15-4-2804 - [Repealed]

Repealed by Act 2015, No. 1149,§ 2, eff. 7/22/2015.
Acts 2003, No. 1287, § 1.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 28 - BIODIESEL INCENTIVE ACT (§§ 15-4-2801 — 15-4-2805) › Section 15-4-2805 - [Repealed]

Repealed by Act 2015, No. 1149,§ 3, eff. 7/22/2015.
Acts 2003, No. 1287, § 1.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 29 - ARKANSAS WORKFORCE INVESTMENT BOARD AND ADULT EDUCATION STUDY COMMITTEE (§§ 15-4-2901 — 15-4-2902) › Section 15-4-2901 - [Repealed]

Repealed by Act 2017, No. 374,§ 10, eff. 8/1/2017.
Amended by Act 2015, No. 1115,§ 24, eff. 7/22/2015.
Acts 2003, No. 1204, § 1.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 29 - ARKANSAS WORKFORCE INVESTMENT BOARD AND ADULT EDUCATION STUDY COMMITTEE (§§ 15-4-2901 — 15-4-2902) › Section 15-4-2902 - [Repealed]

Repealed by Act 2017, No. 374,§ 10, eff. 8/1/2017.
Acts 2003, No. 1204, § 2.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3001 - Title

This subchapter may be referred to and cited as the "Arkansas General Obligation Economic Development Superprojects Bond and Project Funding Act".
Acts 2003, No. 1751, § 1.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3002 - Legislative findings

The General Assembly finds that:
(1)
Independent studies have confirmed that the State of Arkansas and its people have not been able to participate in and enjoy the economic development benefits to be gained from the location in Arkansas of a superproject, as have many other southern states, resulting in a loss of opportunity for our citizens and a further loss for economic expansion in Arkansas;
(2)
The government of the state must take bold steps to establish an adequate program for funding and financing superprojects;
(3)
The location in Arkansas of superprojects will help alleviate severe economic instability and economic distress among the citizens of Arkansas; and
(4)
A superprojects program will provide means for accelerated progress in the economic development of the state, thereby providing increased payrolls, job opportunities, and tax income to support the public services of this state.
Acts 2003, No. 1751, § 3.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3004 - Authority to issue bonds

(a)
(1)
The Arkansas Development Finance Authority, exercising an essential public function as the State of Arkansas's bond-issuing authority, is authorized by this subchapter to issue bonds to fund superprojects.
(2)
The authority shall be responsible for developing the bond financing portion of the plan required by §
15-4-3005
.
(b)
(1)
As the lead economic development agency for the State of Arkansas, the Arkansas Economic Development Commission is authorized to utilize the superproject funding in attracting superprojects to Arkansas.
(2)
The commission shall:
(A)
Utilize economic impact and cost-benefit analysis to evaluate proposed superprojects;
(B)
Be responsible for developing the portion of the plan concerning the selection and funding of the superprojects; and
(C)
Be responsible for monitoring and reporting to the authority, the Governor, and the Legislative Council on the ongoing economic impact of the superproject and the sponsor's progress in meeting the requirement for their economic development investment.
Acts 2003, No. 1751, § 4.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3006 - Qualification as a superproject

(a)
(1)
To qualify as a superproject, the investment and job creation requirements must be attained no later than the eighth year after the project first begins operations unless the eight-year period is extended by the Arkansas Economic Development Commission.
(2)
The commission may extend the eight-year deadline for a reasonable period of time, taking into consideration general economic conditions.
(b)
If the investment and job creation requirements are not attained within the eight-year deadline or the extended deadline as prescribed by the commission, the sponsor shall refund to the Arkansas Development Finance Authority any funds the sponsor received under this subchapter.
Acts 2003, No. 1751, § 6.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3007 - Series of bonds

(a)
The bonds shall be issued in series in amounts sufficient to finance or refinance all or any part of a superproject's costs, with the respective series to be designated in alphabetical order or by the year in which issued, or both.
(b)
Each series of bonds shall have such date as the Arkansas Development Finance Authority shall determine and shall mature or be subject to mandatory sinking fund redemption as determined by the authority over a period ending not later than thirty (30) years after the date of issuing the bonds of each series.
(c)
Pending the issuance of bonds, the authority may issue temporary notes maturing not more than five (5) years after the date of issuance, to be exchanged for or paid from the proceeds of bonds at such time as the bonds may be issued.
(d)
(1)
Each series of the bonds shall bear interest at the rate or rates accepted by the authority.
(2)
Interest shall be payable at such times as the authority shall determine.
(e)
The bonds may:
(1)
Be issued in the form;
(2)
Be in the denominations;
(3)
Be made exchangeable for bonds of another form or denomination bearing the same rate of interest and date of maturity;
(4)
Be made payable at the places within or without the state;
(5)
Be made subject to redemption prior to maturity in the manner and for redemption prices; and
(6)
Contain other terms and conditions,
as the authority shall determine.
(f)
The bonds shall have all of the qualities of negotiable instruments or securities under the laws of this state, subject to the provision for registration of ownership.
Acts 2003, No. 1751, § 7.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3008 - Purpose of bonds

(a)
Bonds shall be issued for the purpose of financing superprojects.
(b)
The proceeds of the bonds shall be applied:
(1)
To the payment of project costs and the costs and expenses of issuance of the bonds;
(2)
In connection with a superproject refinancing, to the repayment of indebtedness incurred to pay project costs; or
(3)
For refunding of bonds as provided in this subchapter.
Acts 2003, No. 1751, § 8.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3009 - Authorization of bonds

(a)
(1)
The bonds shall be authorized by resolution of the Arkansas Development Finance Authority.
(2)
Each resolution shall contain terms, covenants, and conditions as deemed desirable, including without limitation, those pertaining to:
(A)
The establishment and maintenance of funds and accounts;
(B)
The deposit and investment of revenues and of bond proceeds; and
(C)
The rights and obligations of the state, its officers and officials, the authority, and the registered owners of the bonds.
(3)
(A)
The resolution of the authority may provide for the execution and delivery by the authority of a trust indenture or indentures with one (1) or more banks or trust companies located within or without the state, containing any of the terms, covenants, and conditions referred to in this subchapter.
(B)
The trust indenture or indentures shall be binding upon the state and its agencies, officers, and officials to the extent set forth in this subchapter.
(b)
Any resolution or trust indenture adopted or executed under this section shall provide that power is reserved:
(1)
To apply to the payment of debt service on the bonds issued or secured under this subchapter all or any part of the revenues that may be derived from any superproject financed by the bonds or financed by the authority in some other manner; and
(2)
To the extent of the revenues that the authority elects to apply to debt service, to release from any requirement of the resolution or trust indenture other revenues and resources of the state, including without limitation, the Economic Development Superprojects Project Fund revenues or other revenues required to be transferred under this subchapter.
Acts 2003, No. 1751, § 9.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3010 - Form and delivery of bonds

(a)
Each bond shall:
(1)
Be signed with the manual or facsimile signatures of the Governor, the Chair of the Board of Directors of the Arkansas Development Finance Authority, and the Treasurer of State; and
(2)
Have affixed, imprinted, or lithographed on the bond the Great Seal of the State of Arkansas.
(b)
Interest coupons attached to the bonds, if any, shall be signed with the facsimile signature of the Treasurer of State.
(c)
Delivery of the bonds and coupons shall be valid notwithstanding any change in persons holding such offices occurring after the bonds have been executed.
Acts 2003, No. 1751, § 10.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3011 - Sale and price of bonds

(a)
The bonds may be sold in the manner, either at public or private sale, and upon terms as determined by the Arkansas Development Finance Authority to be reasonable and expedient for effectuating the purposes of this subchapter.
(b)
The bonds may be sold at the price the authority determines acceptable, including sale at a discount.
(c)
The authority may employ administrative agents, fiscal agents, underwriters, architects, accountants, engineers, and legal counsel and may pay them reasonable compensation from the proceeds of the bonds.
(d)
The proceeds from the sale of the bonds may be used to pay:
(1)
The fees of any trustee or paying agent;
(2)
The costs of publication of notices;
(3)
The costs of publication of the printing of the bonds;
(4)
The costs of publication of official statements and other documents relating to the sale of the bonds;
(5)
The fees of any rating agency; and
(6)
Other reasonable costs incurred by the authority for issuing and selling the bonds.
Acts 2003, No. 1751, § 11.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3013 - Powers of the Arkansas Economic Development Commission

In addition to powers conferred under other laws, the Arkansas Economic Development Commission may take any action necessary to carry out the purposes of this subchapter, including the power to:
(1)
Provide loans and grants from bond proceeds or project revenues to local entities and to authorize local entities to make loans to other persons for financing superprojects;
(2)
Cause the Arkansas Development Finance Authority to purchase with bond proceeds or project revenues, bonds or notes from a local entity in order to provide funds for financing superprojects and to enter into note and bond purchase agreements in connection with those purchases;
(3)
Fix, regulate, and collect rates, fees, rents, or other charges for making any loan or commitment under this subchapter and for performing accounting and loan servicing duties relating to the loans;
(4)
Require audits of all accounts related to construction, operation, or maintenance of any superproject funded by this subchapter;
(5)
Take reasonable actions necessary to ensure that debt service requirements are met;
(6)
Refinance loans made by the authority from whatever source to local entities in order to develop a superproject;
(7)
Provide loans from bond proceeds or project revenues to local entities for the purpose of refinancing indebtedness of the local entity incurred for the purpose of financing a superproject; and
(8)
Take any other action necessary to accomplish the purposes of this subchapter.
Acts 2003, No. 1751, § 13.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3014 - General obligations bonds

(a)
The bonds shall be direct general obligations of the state for the payment of debt service on which the full faith and credit of the state are irrevocably pledged so long as any of the bonds are outstanding.
(b)
The bonds shall be payable from the Economic Development Superprojects Project Fund and, if necessary, from general revenues, and such amount of general revenues as may be necessary is pledged to the payment of debt service on the bonds and shall be and remain pledged for those purposes.
Acts 2003, No. 1751, § 14.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3015 - Annual determination of moneys required for bond repayment

(a)
(1)
On or before commencement of each fiscal year, the Chief Fiscal Officer of the State shall determine the estimated amount required for payment of all or a part of the debt service on the bonds issued during the fiscal year and deduct therefrom the estimated moneys to be available to the Arkansas Development Finance Authority from other sources and the amount available in the Economic Development Superprojects Project Fund to determine what amount of general revenues, if any, will be required.
(2)
The Chief Fiscal Officer of the State shall certify the estimated amount to the Treasurer of State.
(3)
The Treasurer of State shall then make monthly transfers from the Economic Development Superprojects Project Fund and, if necessary, from the State Apportionment Fund to the bond fund of the amount of general revenues as shall be required to pay the maturing debt service on the bonds.
(b)
(1)
The obligation to make monthly transfers of general revenues from the State Apportionment Fund to the bond fund shall constitute a first charge against the general revenues prior to all other uses to which the general revenues are devoted, either under present law or under any laws that may be enacted in the future.
(2)
To the extent other general obligation bonds of the state may have been issued or may subsequently be issued, they shall rank on a parity of security with respect to payment from general revenues.
(c)
(1)
Moneys credited to the Economic Development Superprojects Project Fund shall be used for the purposes identified in §
15-4-3012(b)
, and for those purposes the Treasurer of State is designated as the disbursing officer to administer those funds in accordance with this subchapter.
(2)
If no bonds are issued, upon the request of the Arkansas Economic Development Commission and with the approval of the Governor, moneys in the Economic Development Superprojects Project Fund may be used on a pay-as-you-go basis as commission grants to local entities for infrastructure project costs.
(d)
Moneys in the bond fund over and above the amount necessary to ensure the prompt payment of debt service on the bonds and the establishment and maintenance of a reserve fund, if any, may be used for the redemption of bonds prior to maturity in the manner and in accordance with the provisions pertaining to redemption prior to maturity as set forth in the resolution or trust indenture authorizing or securing the bonds.
Acts 2003, No. 1751, § 15.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3016 - Exemption from taxes

(a)
All bonds issued under this subchapter and interest on the bonds are exempt from all state and local taxes.
(b)
The bonds shall be eligible to secure deposits of all public funds and shall be legal for investment of bank, fiduciary, insurance company, trust, and public funds.
Acts 2003, No. 1751, § 16.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3017 - Refunding bonds

(a)
(1)
Bonds may be issued under this subchapter for the purpose of refunding any outstanding bonds issued pursuant to this subchapter.
(2)
The Arkansas Development Finance Authority shall not be required to include bonds issued pursuant to this section in any written plan submitted to the Governor under §
15-4-3005
, and the bonds shall not be subject to the requirements for the approval and proclamation of the Governor as set forth in §
15-4-3005
.
(b)
(1)
The refunding bonds may be either sold for cash or delivered in exchange for the outstanding obligations.
(2)
If sold for cash, the proceeds may be either applied to the payment of the obligations refunded or deposited into an irrevocable trust for the retirement thereof either at maturity or on an authorized redemption date.
(c)
(1)
Refunding bonds shall in all respects be authorized, issued, and secured in the manner provided for the bonds being refunded and shall have all the attributes of the refunded bonds.
(2)
To the extent that the refunding bonds are not in a greater principal amount than the outstanding principal amount of the bonds being refunded, the principal amount of the refunding bonds shall not be subject to the limit of four hundred million dollars ($400,000,000) set forth in §
15-4-3005(a)
or the limit of sixty million dollars ($60,000,000) set forth in §
15-4-3005(c)
.
(d)
The resolution or trust indenture under which the refunding bonds are issued shall provide that any refunding bonds shall have the same priority of payment as was enjoyed by the obligations refunded.
Acts 2003, No. 1751, § 17.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3018 - Contractual obligations of state - Enforcement

(a)
This subchapter shall constitute a contract between the state and the registered owners of all bonds issued under 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 like suit 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.
Acts 2003, No. 1751, § 18.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3019 - 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.
Acts 2003, No. 1751, § 19.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3021 - Vote on issuance of bonds by qualified electors

(a)
If a majority of the qualified electors voting on the question vote for the issuance of the bonds, the Arkansas Development Finance Authority shall proceed with the sale and the issuance of the bonds as provided in this subchapter.
(b)
If a majority of the qualified electors voting on the question vote against the issuance of the bonds, none of the bonds authorized by this subchapter shall ever be sold or issued.
Acts 2003, No. 1751, § 21.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3022 - Legal actions heard as preferred cause - Appeals

Any case involving the validity of this subchapter or involving the bonds issued under 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.
Acts 2003, No. 1751, § 22.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 30 - ARKANSAS GENERAL OBLIGATION ECONOMIC DEVELOPMENT SUPERPROJECTS BOND AND PROJECT FUNDING ACT (§§ 15-4-3001 — 15-4-3023) › Section 15-4-3023 - Construction

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.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 31 - NONPROFIT INCENTIVE ACT OF 2005 (§§ 15-4-3101 — 15-4-3107) › Section 15-4-3101 - [Repealed]

Repealed by Act 2017, No. 208,§ 1, eff. 8/1/2017.
Acts 2005, No. 1277, § 1.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 31 - NONPROFIT INCENTIVE ACT OF 2005 (§§ 15-4-3101 — 15-4-3107) › Section 15-4-3102 - [Repealed]

Repealed by Act 2017, No. 208,§ 1, eff. 8/1/2017.
Acts 2005, No. 1277, § 1.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 31 - NONPROFIT INCENTIVE ACT OF 2005 (§§ 15-4-3101 — 15-4-3107) › Section 15-4-3103 - [Repealed]

Repealed by Act 2017, No. 208,§ 1, eff. 8/1/2017.
Acts 2005, No. 1277, § 1; 2009, No. 795, § 1.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 31 - NONPROFIT INCENTIVE ACT OF 2005 (§§ 15-4-3101 — 15-4-3107) › Section 15-4-3104 - [Repealed]

Repealed by Act 2017, No. 208,§ 1, eff. 8/1/2017.
Acts 2005, No. 1277, § 1; 2009, No. 795, § 2.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 31 - NONPROFIT INCENTIVE ACT OF 2005 (§§ 15-4-3101 — 15-4-3107) › Section 15-4-3105 - [Repealed]

Repealed by Act 2017, No. 208,§ 1, eff. 8/1/2017.
Acts 2005, No. 1277, § 1; 2009, No. 795, § 3.
Arkansas Code of 1987 (2023) › Title 15 - NATURAL RESOURCES AND ECONOMIC DEVELOPMENT (§§ 15-1-101 — 15-76-324) › Subtitle 1 - DEVELOPMENT OF ECONOMIC AND NATURAL RESOURCES GENERALLY (§§ 15-1-101 — 15-14-108) › Chapter 4 - DEVELOPMENT OF BUSINESS AND INDUSTRY GENERALLY (§§ 15-4-101 — 15-4-3910) › Subchapter 31 - NONPROFIT INCENTIVE ACT OF 2005 (§§ 15-4-3101 — 15-4-3107) › Section 15-4-3106 - [Repealed]

Repealed by Act 2017, No. 208,§ 1, eff. 8/1/2017.
Acts 2005, No. 1277, § 1; 2009, No. 795, § 4.