Browse Arkansas Code titles and sections
14-174-109. Public corporation for economic development.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-174-109. Public corporation for economic development.
(a) The sales and use taxes levied or authorized under this subchapter may be used for the sole use and benefit of a corporation organized under the Public Corporations for Economic Development Act, § 14-175-101 et seq.
(b)(1) On receipt from the Secretary of the Department of Finance and Administration of the net proceeds of the sales and use tax levied or authorized under this subchapter, the local government shall deliver all of the proceeds to the corporation to use in carrying out its functions.
(2) However, if the sales and use taxes levied under this subchapter are pledged to secure the issuance of bonds by a corporation under § 14-174-105(b)(4), upon approval by resolution of the corporation, the local government shall hold the proceeds separate and apart in trust, as directed by the corporation.
(c) At an election called and held under § 14-174-103, the local government may also allow the voters to vote on a ballot proposition that limits the length of time that a sales and use tax may be imposed.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-174-109
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:14-174-109
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 94adb3ae1292794802b9c19529fa3f1c83c09bf629825250acda21f8d5124e33
Source location: content.xml paragraph 41889
Stored source content
14-174-109. Public corporation for economic development.
(a) The sales and use taxes levied or authorized under this subchapter may be used for the sole use and benefit of a corporation organized under the Public Corporations for Economic Development Act, § 14-175-101 et seq.
(b)(1) On receipt from the Secretary of the Department of Finance and Administration of the net proceeds of the sales and use tax levied or authorized under this subchapter, the local government shall deliver all of the proceeds to the corporation to use in carrying out its functions.
(2) However, if the sales and use taxes levied under this subchapter are pledged to secure the issuance of bonds by a corporation under § 14-174-105(b)(4), upon approval by resolution of the corporation, the local government shall hold the proceeds separate and apart in trust, as directed by the corporation.
(c) At an election called and held under § 14-174-103, the local government may also allow the voters to vote on a ballot proposition that limits the length of time that a sales and use tax may be imposed.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-174-103. Levy of new taxes permitted.
(a)(1) In addition to all other authority of local governments to levy taxes provided by law, any county, acting through its quorum court, or any municipality, acting through its governing body, may levy any tax.
(2)(A) However, no ordinance levying any tax authorized by this subchapter shall be valid until adopted at a special election in accordance with § 7-11-201 et seq. by qualified electors of the city or in the county where the tax is to be imposed, as the case may be.
(B) An election will also be required to increase, decrease, or repeal a tax levied pursuant to this subchapter.
(b) Nothing in this subchapter shall be construed to diminish the existing powers of county governments or city governments.
(c) Nothing in this subchapter shall terminate, repeal, or otherwise affect any other tax levied by a local government.
(d) The local government levying the tax shall collect and administer the tax.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-174-103
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 14-174-103. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-174-105. Disposition of funds — Definitions.
(a) As used in this section:
(1) “Economic development project” means the land, buildings, furnishings, equipment, facilities, infrastructure, and improvements that are required or suitable for the development, retention, or expansion of:
(A) Manufacturing, production, and industrial facilities;
(B) Research, technology, and development facilities;
(C) Recycling facilities;
(D) Distribution centers;
(E) Call centers;
(F) Warehouse facilities;
(G) Job training facilities;
(H) Regional or national corporate headquarters facilities; and
(I) Sports complexes designed to host local, state, regional, and national competitions, including without limitation baseball, softball, and other sports tournaments;
(2) “Economic development service” means:
(A) Planning, marketing, and strategic advice and counsel regarding job recruitment, job development, job retention, and job expansion;
(B) Supervision and operation of industrial parks or other such properties; and
(C) Negotiation of contracts for the sale or lease of industrial parks or other such properties; and
(3) “Infrastructure” means:
(A) Land acquisition;
(B) Site preparation;
(C) Road and highway improvements;
(D) Rail spur, railroad, and railport construction;
(E) Water service;
(F) Wastewater treatment;
(G) Employee training, which may include equipment for such purpose; and
(H) Environmental mitigation or reclamation.
(b) The taxes levied under this subchapter may be utilized:
(1) For construction, reconstruction, demolition, site development, contracts, and related costs associated with the creation, expansion, and rehabilitation of water or sewer systems, streets and roads, bridges, drainage, and other vital public facili
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-174-105
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 14-174-105. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-175-101. Title.
This chapter shall be known and may be cited as the “Public Corporations for Economic Development Act”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-175-101
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 14-175-101. This identifies an authority to review, not proof of applicability.