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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 16 - ARKANSAS RISK CAPITAL MATCHING FUND ACT OF 2007 (§§ 15-5-1601 — 15-5-1609) › Section 15-5-1604 - [Repealed]

Repealed by Act 2019, No. 925,§ 6, eff. 7/24/2019.
Acts 2007, No. 1025, § 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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 16 - ARKANSAS RISK CAPITAL MATCHING FUND ACT OF 2007 (§§ 15-5-1601 — 15-5-1609) › Section 15-5-1605 - [Repealed]

Repealed by Act 2019, No. 925,§ 6, eff. 7/24/2019.
Amended by Act 2015EX1, No. 8,§ 104, eff. 7/1/2015.
Amended by Act 2015EX1, No. 7,§ 104, eff. 7/1/2015.
Amended by Act 2013, No. 1095,§ 8, eff. 4/11/2013.
Amended by Act 2013, No. 1095,§ 7, eff. 4/11/2013.
Amended by Act 2013, No. 1095,§ 6, eff. 4/11/2013.
Amended by Act 2013, No. 1095,§ 5, eff. 4/11/2013.
Acts 2007, No. 1025, § 1; 2009, No. 481, § 4; 2009, No. 791, § 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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 16 - ARKANSAS RISK CAPITAL MATCHING FUND ACT OF 2007 (§§ 15-5-1601 — 15-5-1609) › Section 15-5-1606 - [Repealed]

Repealed by Act 2013, No. 1095,§ 9, eff. 4/11/2013.
Acts 2007, No. 1025, § 1; 2009, No. 791, § 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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 16 - ARKANSAS RISK CAPITAL MATCHING FUND ACT OF 2007 (§§ 15-5-1601 — 15-5-1609) › Section 15-5-1607 - [Repealed]

Repealed by Act 2019, No. 925,§ 6, eff. 7/24/2019.
Amended by Act 2015, No. 1149,§ 5, eff. 7/22/2015.
Amended by Act 2015, No. 1060,§ 17, eff. 4/4/2015.
Amended by Act 2013, No. 1095,§ 10, eff. 4/11/2013.
Acts 2007, No. 1025, § 1; 2009, No. 791, § 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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 16 - ARKANSAS RISK CAPITAL MATCHING FUND ACT OF 2007 (§§ 15-5-1601 — 15-5-1609) › Section 15-5-1608 - [Repealed]

Repealed by Act 2019, No. 925,§ 6, eff. 7/24/2019.
Amended by Act 2015EX1, No. 8,§ 105, eff. 7/1/2015.
Amended by Act 2015EX1, No. 7,§ 105, eff. 7/1/2015.
Amended by Act 2013, No. 1095,§ 11, eff. 4/11/2013.
Acts 2007, No. 1025, § 1; 2009, No. 791, § 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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 16 - ARKANSAS RISK CAPITAL MATCHING FUND ACT OF 2007 (§§ 15-5-1601 — 15-5-1609) › Section 15-5-1609 - [Repealed]

Repealed by Act 2019, No. 925,§ 6, eff. 7/24/2019.
Acts 2007, No. 1025, § 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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 17 - ARKANSAS HOUSING TRUST FUND ACT OF 2009 (§§ 15-5-1701 — 15-5-1709) › Section 15-5-1701 - Title

This subchapter shall be known and may be cited as the "Arkansas Housing Trust Fund Act of 2009".
Acts 2009, No. 661, § 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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 17 - ARKANSAS HOUSING TRUST FUND ACT OF 2009 (§§ 15-5-1701 — 15-5-1709) › Section 15-5-1702 - Legislative intent

The General Assembly finds:
(1)
That current economic conditions, the lack of affordable housing, and declining resources at all levels of government adversely affect the ability of the citizens of Arkansas to obtain safe, decent, and affordable housing;
(2)
That the lack of affordable housing affects the abilities of communities to maintain and develop viable and stable economies; and
(3)
That the establishment of the Arkansas Housing Trust Fund is intended:
(A)
To provide a flexible source of funds for communities to address their affordable housing needs;
(B)
To help families attain economic stability;
(C)
To revitalize distressed neighborhoods and build healthy, vibrant communities by developing high-quality affordable housing;
(D)
To leverage additional private investment in Arkansas communities;
(E)
To contribute to economic growth through increased housing production, employment, and tax revenues, thereby benefiting all the citizens of the state;
(F)
To alleviate deficiencies in the supply of safe, accessible, and affordable housing for the citizens of the state most likely, because of low incomes, to suffer from these deficiencies, including without limitation persons who are homeless, disabled, elderly, or victims of domestic violence; and
(G)
To alleviate deficiencies in the supply of safe, accessible, and affordable housing for the citizens of the state living in rural areas.
Acts 2009, No. 661, § 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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 17 - ARKANSAS HOUSING TRUST FUND ACT OF 2009 (§§ 15-5-1701 — 15-5-1709) › Section 15-5-1703 - Definitions

As used in this subchapter:
(1)
"Authority" means the Arkansas Development Finance Authority;
(2)
"Board" means the Board of Directors of the Arkansas Development Finance Authority;
(3)
"Eligible activities" means activities eligible for funding by the Arkansas Housing Trust Fund, as set forth in this subchapter;
(4)
"Eligible applicants" means persons or entities eligible to receive funds from the fund, as set forth in this subchapter;
(5)
"Housing trust fund" means the fund created in §
15-5-1704
; and
(6)
"Median household income" means state or area median household income, as defined and adjusted annually by the United States Department of Housing and Urban Development.
Amended by Act 2023, No. 365,§ 28, eff. 7/1/2023.
Acts 2009, No. 661, § 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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 17 - ARKANSAS HOUSING TRUST FUND ACT OF 2009 (§§ 15-5-1701 — 15-5-1709) › Section 15-5-1704 - Establishment of Arkansas Housing Trust Fund

(a)
There is established on the books of the Arkansas Development Finance Authority a special restricted fund, to be known as the "Arkansas Housing Trust Fund", which shall be maintained and administered by the authority for the purposes stated in this subchapter.
(b)
All moneys deposited into the fund under this subchapter are cash funds restricted in their use and shall not be deposited into the State Treasury or deemed to be a part of the State Treasury for the purposes of Arkansas Constitution, Article 5, § 29, Arkansas Constitution, Article 16, § 12, or Arkansas Constitution, Amendment 20, or any other constitutional or statutory provisions, but shall be held by the authority and used solely for the purposes stated under this subchapter.
Acts 2009, No. 661, § 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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 17 - ARKANSAS HOUSING TRUST FUND ACT OF 2009 (§§ 15-5-1701 — 15-5-1709) › Section 15-5-1705 - Sources and deposits - Administration of Arkansas Housing Trust Fund - Responsibilities of the Arkansas Development Finance Authority

(a)
The following moneys shall be deposited into the Arkansas Housing Trust Fund:
(1)
Money designated by the General Assembly or by the Governor for the purpose of funding the fund;
(2)
Grants or other moneys from the federal government or federal agencies that can be used for the purpose of funding the fund;
(3)
Any money received by the Arkansas Development Finance Authority or the state from private sources as a contribution, gift, or donation to the fund;
(4)
Repayments of any loans made from the fund under this subchapter;
(5)
Any interest or investment earnings on amounts held in the fund; and
(6)
Any other money legally designated for the fund.
(b)
The fund shall be maintained and administered by the authority. The authority is authorized and directed:
(1)
To invest and reinvest all money held in the fund in investments under the authority's investment policies, pending its use for the purposes described in this subchapter;
(2)
To keep books and records relating to the investment, interest earnings, and uses of moneys deposited into the fund;
(3)
To establish procedures for the withdrawal, allocation, and use of the moneys held in the fund for the purposes described in this subchapter;
(4)
To cause to be prepared an annual independent audit of the fund;
(5)
To enter into contracts and agreements in connection with the operation of the fund, including contracts and agreements with federal agencies, local governmental entities, community developers, and other persons, to implement this subchapter;
(6)
To develop rules for the competitive evaluation of projects seeking to receive moneys from the fund and as needed to implement this subchapter; and
(7)
To engage in ongoing efforts to increase funding sources for the fund, including any additional ongoing state-dedicated funding source.
(c)
The Board of Directors of the Arkansas Development Finance Authority shall have the final decision-making authority on all matters relating to the fund and the programs administered under this subchapter.
(d)
(1)
To reimburse the authority for its services in administering the fund, the authority shall be periodically paid a reasonable fee from amounts deposited to the fund.
(2)
On an annual basis, the authority shall not be paid in excess of six percent (6%) of the total annual deposits to the fund or the average outstanding balance of the assets of the fund, whichever is greater.
Amended by Act 2023, No. 365,§ 29, eff. 7/1/2023.
Acts 2009, No. 661, § 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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 17 - ARKANSAS HOUSING TRUST FUND ACT OF 2009 (§§ 15-5-1701 — 15-5-1709) › Section 15-5-1706 - [Repealed]

Repealed by Act 2023, No. 365,§ 30, eff. 7/1/2023.
Acts 2009, No. 661, § 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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 17 - ARKANSAS HOUSING TRUST FUND ACT OF 2009 (§§ 15-5-1701 — 15-5-1709) › Section 15-5-1707 - [Repealed]

Repealed by Act 2023, No. 365,§ 31, eff. 7/1/2023.
Amended by Act 2019, No. 910,§ 443, eff. 7/1/2019.
Acts 2009, No. 661, § 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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 17 - ARKANSAS HOUSING TRUST FUND ACT OF 2009 (§§ 15-5-1701 — 15-5-1709) › Section 15-5-1708 - Purposes and uses of the Arkansas Housing Trust Fund

(a)
Money held in the Arkansas Housing Trust Fund shall be used to provide assistance for eligible activities proposed by eligible applicants, including without limitation grants, loans, loan guarantees, and loan subsidies.
(b)
Eligible activities may include without limitation the following:
(1)
New construction, reconstruction, or rehabilitation of rental housing or housing designed for owner occupancy;
(2)
Rental assistance;
(3)
Land acquisition;
(4)
Predevelopment costs;
(5)
Infrastructure;
(6)
Transitional housing;
(7)
Down payment assistance;
(8)
Housing and foreclosure counseling; and
(9)
Technical assistance.
(c)
Eligible applicants of assistance from the fund shall include without limitation:
(1)
Local governments;
(2)
Public housing authorities, public housing agencies, and public housing facilities boards;
(3)
Nonprofit organizations;
(4)
Nonprofit housing developers; and
(5)
For-profit housing developers.
Acts 2009, No. 661, § 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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 18 - STATE ENTITY ENERGY EFFICIENCY PROJECT BOND ACT (§§ 15-5-1801 — 15-5-1810) › Section 15-5-1801 - Title

This subchapter shall be known as the "State Entity Energy Efficiency Project Bond Act".
Added by Act 2013, No. 1252,§ 1, eff. 8/16/2013.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 18 - STATE ENTITY ENERGY EFFICIENCY PROJECT BOND ACT (§§ 15-5-1801 — 15-5-1810) › Section 15-5-1802 - Purpose

(a)
The purpose of this subchapter is to provide financing for energy efficiency projects for state entities under Arkansas Constitution, Amendment 89.
(b)
It is found and determined that:
(1)
This subchapter is in furtherance of a public purpose; and
(2)
The duties imposed upon the state entities and the Arkansas Development Finance Authority in this subchapter are in furtherance of the conservation of the environment, efficient government spending, and the protection of the public health, welfare, and safety.
Added by Act 2013, No. 1252,§ 1, eff. 8/16/2013.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 18 - STATE ENTITY ENERGY EFFICIENCY PROJECT BOND ACT (§§ 15-5-1801 — 15-5-1810) › Section 15-5-1803 - Definitions

As used in this subchapter:
(1)
"Bonds" means all bonds, notes, certificates, financing leases, or other interest-bearing instruments or evidences of indebtedness that are issued under this subchapter;
(2)
"Energy efficiency project" means an improvement, repair, alteration, or renovation of a new building design or an existing building or facility owned or operated by a state entity or any equipment, fixture, or furnishing to be added to or used in a building or facility owned or operated by a state entity that is designed to reduce energy consumption or operating costs; and
(3)
"State entity" means:
(A)
The state; and
(B)
An agency, board, commission, or instrumentality of the state.
Added by Act 2013, No. 1252,§ 1, eff. 8/16/2013.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 18 - STATE ENTITY ENERGY EFFICIENCY PROJECT BOND ACT (§§ 15-5-1801 — 15-5-1810) › Section 15-5-1804 - Issuance of bonds

(a)
Upon the request of a state entity, the Arkansas Development Finance Authority may issue bonds for the purpose of:
(1)
Providing financing or refinancing for an energy efficiency project;
(2)
Refunding bonds issued under this subchapter; and
(3)
Paying the costs of issuing the bonds.
(b)
(1)
The bonds may be:
(A)
Secured by a pledge of the savings derived from the energy efficiency project; and
(B)
Paid from general revenues, special revenues, revenues derived from taxes, or any other revenues available to the state entity.
(2)
A state entity may pledge or assign any guaranteed energy savings contract to secure the bonds.
(3)
A state entity may enter into a long-term loan agreement with the authority to secure the bonds.
(4)
Notwithstanding any law to the contrary, a state entity may use maintenance and operations appropriations to pay for an energy efficiency project.
(c)
(1)
(A)
Bonds issued under this subchapter shall:
(i)
Be authorized by a resolution of the state entity and the Board of Directors of the Arkansas Development Finance Authority; and
(ii)
Have the form and characteristics and bear the designations provided in the resolution and permitted under this chapter, including without limitation §§
15-5-301
-
15-5-317
.
(B)
The resolution under subdivision (c)(1)(A)(i) of this section may include the provisions and covenants that the state entity or the board determines to be necessary.
(2)
The board may:
(A)
Require additional proceedings; and
(B)
Approve and have executed any other proceedings, agreements, trust agreements, or other instruments necessary or convenient to the issuance of the bonds.
Added by Act 2013, No. 1252,§ 1, eff. 8/16/2013.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 18 - STATE ENTITY ENERGY EFFICIENCY PROJECT BOND ACT (§§ 15-5-1801 — 15-5-1810) › Section 15-5-1805 - Terms and conditions

(a)
The Arkansas Development Finance Authority shall be the issuer of bonds for energy efficiency projects under this subchapter.
(b)
(1)
The authority shall not issue bonds under this subchapter unless:
(A)
A state entity has:
(i)
Applied for approval; and
(ii)
Submitted a resolution to the authority authorizing the issuance of bonds; and
(B)
The authority determines that the energy savings to be realized from the energy efficiency project and other available revenues are sufficient to fund the requested bond issue.
(2)
(A)
Upon approval, the authority shall proceed with the issuance of the bonds under this subchapter.
(B)
If the bonds are not approved, the state entity may resubmit a request for approval of the issuance of bonds, and a resubmitted request shall be handled in the same manner as the initial request under this section.
Amended by Act 2015, No. 1149,§ 6, eff. 7/22/2015.
Amended by Act 2015, No. 1060,§ 18, eff. 4/4/2015.
Added by Act 2013, No. 1252,§ 1, eff. 8/16/2013.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 18 - STATE ENTITY ENERGY EFFICIENCY PROJECT BOND ACT (§§ 15-5-1801 — 15-5-1810) › Section 15-5-1806 - Tax exemption

The interest on the bonds issued under this subchapter shall be exempt from state, county, and municipal income, inheritance, and estate taxes.
Added by Act 2013, No. 1252,§ 1, eff. 8/16/2013.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 18 - STATE ENTITY ENERGY EFFICIENCY PROJECT BOND ACT (§§ 15-5-1801 — 15-5-1810) › Section 15-5-1807 - 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 any accrued interest on those bonds.
(b)
The authority may:
(1)
Sell the refunding bonds and use the proceeds to retire the outstanding bonds issued under this subchapter;
(2)
Exchange the refunding bonds for the outstanding bonds; and
(3)
Refund the bonds in the manner provided by any other applicable statute.
Added by Act 2013, No. 1252,§ 1, eff. 8/16/2013.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 18 - STATE ENTITY ENERGY EFFICIENCY PROJECT BOND ACT (§§ 15-5-1801 — 15-5-1810) › Section 15-5-1808 - Applicability

This subchapter:
(1)
Applies only to the following governmental units:
(A)
The state; and
(B)
An agency, board, commission, or instrumentality of the state; and
(2)
Does not apply to the following governmental units:
(A)
A county, municipality, school district, or other political subdivision of the state;
(B)
A special assessment or taxing district established under the laws of the state; and
(C)
An agency, board, commission, or instrumentality of an entity listed in subdivision (2)(A) or subdivision (2)(B) of this section.
Added by Act 2013, No. 1252,§ 1, eff. 8/16/2013.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 18 - STATE ENTITY ENERGY EFFICIENCY PROJECT BOND ACT (§§ 15-5-1801 — 15-5-1810) › Section 15-5-1809 - Subchapter supplemental to other laws

This subchapter is:
(1)
Supplemental to 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 under this subchapter; and
(2)
Sufficient authority for the issuance of bonds and the performance of all other acts and procedures authorized by this subchapter.
Added by Act 2013, No. 1252,§ 1, eff. 8/16/2013.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 18 - STATE ENTITY ENERGY EFFICIENCY PROJECT BOND ACT (§§ 15-5-1801 — 15-5-1810) › Section 15-5-1810 - Rules

The Arkansas Development Finance Authority may promulgate rules to implement this subchapter.
Added by Act 2013, No. 1252,§ 1, eff. 8/16/2013.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 19 - ARKANSAS STUDENT LOAN FINANCING ACT (§§ 15-5-1901 — 15-5-1908) › Section 15-5-1901 - Title

This subchapter shall be known and may be cited as the "Arkansas Student Loan Financing Act".
Added by Act 2017, No. 824,§ 15, eff. 7/1/2017.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 19 - ARKANSAS STUDENT LOAN FINANCING ACT (§§ 15-5-1901 — 15-5-1908) › Section 15-5-1902 - Creation of the Student Loan Authority Division - Assumption of obligations of Arkansas Student Loan Authority

(a)
(1)
There is established the Student Loan Authority Division of the Arkansas Development Finance Authority.
(2)
The division shall be the instrumentality of the state charged with a portion of the responsibility of the state to provide educational opportunities in keeping with all applicable state and federal laws.
(b)
The Arkansas Development Finance Authority shall employ professional and clerical assistance, including loan servicing and legal assistance, as it shall deem necessary or appropriate to properly carry out the responsibilities of the division.
(c)
The Arkansas Development Finance Authority may adopt such rules to be followed by the division in conducting business as necessary to carry out the purposes of this subchapter, including rules governing:
(1)
Compliance statutes or regulations governing the guaranty, insurance, purchase, or other dealing in guaranteed educational loans or education loans by corporations or federal agencies; and
(2)
Standards of eligibility for educational institutions, students, and lenders.
(d)
As the successor to the Arkansas Student Loan Authority, the division assumes all obligations under all contracts and debt obligations of the Arkansas Student Loan Authority that are effective or outstanding as of July 1, 2017.
Added by Act 2017, No. 824,§ 15, eff. 7/1/2017.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 19 - ARKANSAS STUDENT LOAN FINANCING ACT (§§ 15-5-1901 — 15-5-1908) › Section 15-5-1903 - Definitions

As used in this subchapter:
(1)
(A)
"Education loan" means a loan made to a student or the parent, legal guardian, or sponsor of the student or to an eligible institution for the purpose of financing a student's attendance at the eligible institution.
(B)
The loan may provide that the student or parent, legal guardian, sponsor of the student, or eligible institution may be held jointly and severally liable for the education loan;
(2)
"Eligible institution" means any public or private postsecondary educational institution whose students are eligible for guaranteed educational loans, an institution of higher learning, or a vocational school as defined by rule of the Arkansas Development Finance Authority as implemented by the Student Loan Authority Division of the Arkansas Development Finance Authority;
(3)
"Guaranteed educational loan" means a loan made in accordance with Title IV, Part B, of the Higher Education Act of 1965,
20 U.S.C. § 1071
et seq., or pursuant to an alternative educational loan program undertaken by the division and consistent with this subchapter, to a qualified borrower for payment of educational expenses incurred by a student while attending an eligible institution, the payment of principal of and interest on which is insured by the United States Secretary of Education under the Higher Education Act of 1965, by the Student Loan Guarantee Foundation of Arkansas, its successors or assigns, or by other guarantors as the division may approve;
(4)
"Obligation", "bond", or "bonds" means any bond, note, certificate, or other evidence of indebtedness, whether or not the interest on the obligation shall be subject to federal income taxation;
(5)
"Qualified borrower" means a student or the parent, legal guardian, or sponsor of a student who:
(A)
Qualifies for a guaranteed educational loan; and
(B)
Is a resident of the State of Arkansas or has been accepted for enrollment at or is attending an eligible institution within the State of Arkansas or is borrowing from a lender doing business within the State of Arkansas, including the division; and
(6)
(A)
"Student" means an individual who meets the enrollment and satisfactory progress requirements necessary for making a guaranteed educational loan or an education loan as determined by the division.
(B)
"Student" includes a dependent and independent undergraduate, graduate, and professional student.
Added by Act 2017, No. 824,§ 15, eff. 7/1/2017.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 19 - ARKANSAS STUDENT LOAN FINANCING ACT (§§ 15-5-1901 — 15-5-1908) › Section 15-5-1904 - Cash funds - Sufficient redemption fund required

(a)
(1)
All moneys received by the Student Loan Authority Division of the Arkansas Development Finance Authority or its trustee as repayment of principal or interest on an education loan or as repayment of principal or interest on a guaranteed educational loan, including payments by the United States as subsidies, in payment of the guarantee on guaranteed educational loans made or purchased under this subchapter or as income on any other investment authorized by this subchapter are specifically declared to be cash funds.
(2)
The moneys shall not be deposited into the State Treasury but shall be deposited as required by the agreement or trust indenture for each different series of obligations of the division.
(3)
A sufficient amount of such money shall always be made available to any redemption fund securing outstanding obligations of the division to ensure their payment and interest thereon as they mature.
(b)
All revenues received by the division, except revenues derived from a state appropriation, are declared to be restricted cash funds and shall be used as provided in this subchapter.
(c)
The division may use the proceeds of any bond issues, together with any other available funds, for:
(1)
Making loans;
(2)
Purchasing loans and security interests in loan participations as authorized;
(3)
Paying incidental expenses in connection with loans;
(4)
Paying expenses of authorizing and issuing bonds;
(5)
Paying interest on bonds until revenues are available in sufficient amounts from the bonds; and
(6)
Funding reserves as necessary.
(d)
Revenues received by the division shall not be deposited into the State Treasury except those revenues received by state appropriation.
(e)
Funds of the division shall not inure to the benefit of or be distributed to employees, officers, or directors of the division except as authorized as reasonable compensation.
(f)
The revenues not deposited into the State Treasury shall be deposited into an account or accounts specified by resolution of the division and used for carrying out the provisions of any resolution, indenture securing bonds of the division, or other agreement of the division under this subchapter.
(g)
The division may establish one (1) or more special funds or accounts to secure bonds issued as necessary under this subchapter.
Added by Act 2017, No. 824,§ 15, eff. 7/1/2017.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 19 - ARKANSAS STUDENT LOAN FINANCING ACT (§§ 15-5-1901 — 15-5-1908) › Section 15-5-1905 - Excess funds - Allowable investments

Moneys in funds created by resolution or trust indenture of the Arkansas Development Finance Authority in excess of the amount then necessary for making education loans or guaranteed educational loans and purchasing education loan notes or guaranteed educational loan notes under this subchapter or in excess of the amount necessary to meet current debt service may be invested by the authority or on its behalf in:
(1)
Direct obligations or obligations whose principal and interest are guaranteed by the United States;
(2)
Direct obligations of or participation certificates guaranteed by the Federal Financing Bank, Federal Intermediate Credit Bank, federal land banks, Federal Home Loan Bank, Government National Mortgage Association, or banks for cooperatives;
(3)
Certificates of deposit of any bank, savings and loan association, or trust company whose deposits are fully secured by a pledge of securities of any kind specified in subdivision (1) or subdivision (2) of this section;
(4)
Certificates of deposit of any bank, savings and loan association, or trust company, which deposit is fully insured by the Federal Deposit Insurance Corporation;
(5)
Repurchase agreements sold by any bank, savings and loan association, or trust company, provided that the repurchase agreement is fully secured by a pledge of securities of any kind specified in subdivision (1) or subdivision (2) of this section;
(6)
General obligations of the state or its political subdivisions;
(7)
Obligations, including investment agreements, of any bank, savings and loan association, trust company, or other financial institution, or a holding company thereof, whose credit is rated in either of the top two (2) rating categories by a nationally recognized credit rating service or corporation;
(8)
Money market funds that invest only in obligations described in subdivision (1) or subdivision (2) of this section, or which are rated in the highest two (2) categories by one (1) or more nationally recognized rating agencies; and
(9)
Any other investment permitted by the indenture under which such funds are held, provided that such investment is rated as investment grade by one (1) or more nationally recognized rating agencies.
Amended by Act 2019, No. 384,§ 3, eff. 7/24/2019.
Added by Act 2017, No. 824,§ 15, eff. 7/1/2017.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 19 - ARKANSAS STUDENT LOAN FINANCING ACT (§§ 15-5-1901 — 15-5-1908) › Section 15-5-1906 - Trust indenture funds and accounts

(a)
All proceeds derived from a particular obligation under this subchapter shall be deposited into funds or accounts to be created pursuant to a trust indenture with a trustee as shall be determined by the Arkansas Development Finance Authority.
(b)
Funds credited to an account or fund created by a trust indenture may be used for any or all of the following purposes:
(1)
The payment of the necessary expenses, including without limitation the costs of issuing the authority's obligations incurred by the authority in carrying out its responsibilities under this subchapter;
(2)
The establishment of a debt service reserve account to secure the payment of obligations;
(3)
The making of guaranteed educational loans to qualified borrowers;
(4)
The purchase or acquisition, either directly or acting through a bank with trust powers for its account, of guaranteed educational loan notes executed after March 30, 1977, by qualified borrowers or of education loan notes;
(5)
The acquisition of an investment contract or contracts or any other investments permitted under an indenture of the authority securing its obligations. However, the income from the contract, contracts, or investments, after payment of the obligations and all expenses associated therewith, shall be used by the authority to assist in carrying out its purposes under this subchapter; and
(6)
The making of education loans.
Added by Act 2017, No. 824,§ 15, eff. 7/1/2017.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 19 - ARKANSAS STUDENT LOAN FINANCING ACT (§§ 15-5-1901 — 15-5-1908) › Section 15-5-1907 - Students - Power to contract

(a)
For the purpose of this subchapter, a student who is a qualified borrower is vested with full capacity to contract and is bound by any contract executed by him or her under this subchapter.
(b)
The fact that the student was a minor at the time he or she executed the note shall not be a defense in any action arising on the note.
Added by Act 2017, No. 824,§ 15, eff. 7/1/2017.
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 5 - ARKANSAS DEVELOPMENT FINANCE AUTHORITY (§§ 15-5-101 — 15-5-1908) › Subchapter 19 - ARKANSAS STUDENT LOAN FINANCING ACT (§§ 15-5-1901 — 15-5-1908) › Section 15-5-1908 - Purchase of student loan notes

Before purchasing a guaranteed educational loan note or an education loan note under this subchapter, the Student Loan Authority Division of the Arkansas Development Finance Authority shall reasonably determine that:
(1)
The guaranteed educational loan note or education loan note represents a guaranteed educational loan or education loan actually disbursed to a qualified borrower;
(2)
Due diligence both in making and collecting the guaranteed educational loan or education loan has been exercised with respect to that guaranteed educational loan or education loan;
(3)
The guaranteed educational loan or education loan meets such other reasonable criteria as may be established from time to time by the Arkansas Development Finance Authority; and
(4)
Other defects do not exist affecting the ability of the guaranteed educational loan or education loan to be guaranteed.
Amended by Act 2019, No. 384,§ 4, eff. 7/24/2019.
Added by Act 2017, No. 824,§ 15, eff. 7/1/2017.
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 6 - ARKANSAS RURAL DEVELOPMENT PROGRAM ACT (§§ 15-6-101 — 15-6-107) › Section 15-6-101 - Title

This chapter may be known and may be cited as the "Arkansas Rural Development Program Act".
Acts 1991, No. 302, § 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 6 - ARKANSAS RURAL DEVELOPMENT PROGRAM ACT (§§ 15-6-101 — 15-6-107) › Section 15-6-103 - Definitions

As used in this chapter:
(1)
"Federal agency" means any department, office, council, or agency of the United States Government or any public benefit corporation or authority authorized by federal statute;
(2)
"Governing body" means:
(A)
The city council or board of directors for a city of the first class or a city of the second class;
(B)
The town council for an incorporated town; or
(C)
The quorum court for a county;
(3)
"Local governmental units" or "local agency" means a city of the first class or a city of the second class, an incorporated town, or a county or an office or department thereof;
(4)
"Municipality" means any city of the first class, city of the second class, or incorporated town established under the laws of the State of Arkansas;
(5)
"Political subdivision" means a county, municipality, and any other unit of local government, including a school district and an improvement district, authorized by law to perform governmental functions;
(6)
"Rural area" or "rural community" means all the territory of the State of Arkansas that is not within the outer boundary of any city or town having a population of twenty thousand (20,000) or more according to the latest federal decennial census or within the city's or town's neighboring urbanized areas;
(7)
"Rural development and revitalization" means those policies, programs, laws, regulations, rules, or other matters having to do with rural areas, including, but not limited to, economic development, employment, local government services and management, business, agriculture, environment, land use and natural resources, human services and community life, health care, education, transportation, community facilities, and housing;
(8)
"State" means the State of Arkansas;
(9)
"State agency" means any department, board, commission, office, or agency of the State of Arkansas; and
(10)
"Urbanized area" means the areas of dense settlement and suburbanization contiguous to the central city of a metropolitan area.
Amended by Act 2019, No. 315,§ 1092, eff. 7/24/2019.
Amended by Act 2015EX1, No. 8,§ 125, eff. 7/1/2015.
Repealed by Act 2015EX1, No. 7,§ 125, eff. 7/1/2015.
Acts 1991, No. 302, § 3; 1999, No. 935, § 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 6 - ARKANSAS RURAL DEVELOPMENT PROGRAM ACT (§§ 15-6-101 — 15-6-107) › Section 15-6-104 - Arkansas Rural Development Commission

(a)
There is established the Arkansas Rural Development Commission, which shall consist of eleven (11) members from rural areas.
(b)
The members shall be appointed as follows:
(1)
(A)
(i)
There shall be seven (7) members of the Arkansas Rural Development Commission appointed by the Governor to serve for terms of five (5) years.
(ii)
One (1) member shall be appointed from each of the four (4) congressional districts of the state as constituted January 1, 1990, and shall be a resident of a rural area of that congressional district.
(iii)
Three (3) members shall be appointed from the state at large and shall be residents of a rural area.
(B)
In the event of a vacancy on the Arkansas Rural Development Commission in one (1) of the Governor's appointee positions due to death, resignation, or other reason, the vacancy shall be filled for the unexpired portion of the term by appointment by the Governor of a person meeting the same qualifications required for initial appointment.
(C)
(i)
Except as provided in subdivisions (b)(1)(C)(ii)-(iv) of this section, members of the Arkansas Rural Development Commission shall not be eligible for reappointment.
(ii)
A member appointed to fill the unexpired portion of a term may be reappointed to serve a five-year term.
(iii)
A member appointed to a five-year term by the Governor shall not be eligible for reappointment by the Governor but may be appointed by the President Pro Tempore of the Senate or the Speaker of the House of Representatives.
(iv)
The Governor may appoint to a five-year term a person previously appointed to the Arkansas Rural Development Commission by the President Pro Tempore of the Senate or the Speaker of the House of Representatives; and
(2)
Two (2) members shall be appointed by and shall serve at the pleasure of the President Pro Tempore of the Senate, and two (2) members shall be appointed by and shall serve at the pleasure of the Speaker of the House of Representatives.
(c)
The Arkansas Rural Development Commission shall select by majority vote one (1) of its members to serve as chair and one (1) to serve as vice chair.
(d)
Members of the Arkansas Rural Development Commission shall serve without compensation, provided that, in the event funds shall be appropriated for such purposes, the members may receive expense reimbursement in accordance with §
25-16-902
.
(e)
The Arkansas Rural Development Commission shall advise and assist the Director of the Arkansas Economic Development Commission in the performance of his or her duties under this subchapter.
Amended by Act 2019, No. 910,§ 444, eff. 7/1/2019.
Amended by Act 2015EX1, No. 8,§ 126, eff. 7/1/2015.
Amended by Act 2015EX1, No. 7,§ 126, eff. 7/1/2015.
Acts 1991, No. 302, § 4; 1993, No. 448, § 1; 1997, No. 250, § 99; 1997, No. 1354, § 32; 2001, No. 1288, § 8; 2009, No. 541, § 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 6 - ARKANSAS RURAL DEVELOPMENT PROGRAM ACT (§§ 15-6-101 — 15-6-107) › Section 15-6-105 - Rural Services Division of the Arkansas Economic Development Commission

(a)
There is created the Rural Services Division of the Arkansas Economic Development Commission.
(b)
The head of the division shall be the Director of the Arkansas Economic Development Commission.
(c)
The Governor shall direct that all state agencies provide the director with assistance in advancing the purpose of the division to assure that the activities of the division are fully coordinated with the activities of state agencies providing related services.
Amended by Act 2019, No. 910,§ 445, eff. 7/1/2019.
Amended by Act 2015EX1, No. 8,§ 127, eff. 7/1/2015.
Amended by Act 2015EX1, No. 7,§ 127, eff. 7/1/2015.
Acts 1991, No. 302, § 5; 1999, No. 935, § 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 6 - ARKANSAS RURAL DEVELOPMENT PROGRAM ACT (§§ 15-6-101 — 15-6-107) › Section 15-6-107 - Assistance programs and grants

(a)
The Rural Services Division of the Arkansas Economic Development Commission shall request such specific information as the Director of the Arkansas Economic Development Commission determines to be necessary concerning assistance programs and grants administered by federal, state, and local agencies, individuals, and corporations designed to enhance rural areas. The information shall be used to advise local agencies, individuals, or corporations for the purpose of promoting coordination in program or grant efforts wherever feasible or proper.
(b)
Any political subdivision requesting program grants or assistance in order to address rural development and revitalization needs, conditions, or strengths in rural areas, pursuant to the rules of the Arkansas Economic Development Commission, may confer with the division to obtain assistance in gaining the most prompt and efficient processing and review of any grant applications.
(c)
The division, so far as possible, shall render such assistance, and the director may designate an officer or employee of the division to act as an expediter for the purpose of:
(1)
Facilitating contacts for the applicant with state, federal, or local agencies, individuals, or corporations responsible for processing and reviewing grant applications;
(2)
Arranging conferences to clarify the interest and requirements of any such agency, individual, or corporation with respect to grant applications;
(3)
Considering with the agency, individual, or corporation the feasibility of consolidating hearings and data required of the applicant;
(4)
Assisting the applicant in the resolution of outstanding issues identified by the agency, individual, or corporation, including delays experienced in application review; and
(5)
Coordinating federal, state, and local grant application review actions and assistance programs to the extent practicable.
Amended by Act 2019, No. 910,§ 448, eff. 7/1/2019.
Amended by Act 2019, No. 910,§ 447, eff. 7/1/2019.
Amended by Act 2015EX1, No. 8,§ 129, eff. 7/1/2015.
Amended by Act 2015EX1, No. 7,§ 129, eff. 7/1/2015.
Acts 1991, No. 302, § 7; 1999, No. 935, § 5.
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 9 - COMMISSION ON INFORMATION AGE COMMUNITIES ACT (§§ 15-9-101 — 15-9-105) › Section 15-9-101 - [Repealed]

Repealed by Act 2017, No. 540,§ 14, eff. 8/1/2017.
Acts 1999, No. 712, § 1.