Browse Arkansas Code titles and sections
14-175-112. Economic development taxes.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-175-112. Economic development taxes.
(a) All tax proceeds received by a corporation under § 14-174-101 et seq. shall be used for any one (1) or more of the following purposes:
(1) To pay administrative costs incurred by the corporation;
(2) To pay costs incurred in connection with a project;
(3) To pay costs incurred for promotional purposes; or
(4) To pay expenses incurred by the corporation under § 14-175-113 relating to job training.
(b) Tax proceeds received by a corporation under § 14-174-101 et seq. shall not be used for a project for the direct benefit of a specific individual or individuals or nongovernmental enterprise or enterprises unless the primary purpose of the project is to finance an economic development project or provide an economic development service within or near the local government that levies the tax, as provided under § 14-174-105.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-175-112
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:14-175-112
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 3541d582d6f7718c339345a0f458fb4dba4d149bf6a2a6669d4161c8ae9a3ad3
Source location: content.xml paragraph 42094
Stored source content
14-175-112. Economic development taxes.
(a) All tax proceeds received by a corporation under § 14-174-101 et seq. shall be used for any one (1) or more of the following purposes:
(1) To pay administrative costs incurred by the corporation;
(2) To pay costs incurred in connection with a project;
(3) To pay costs incurred for promotional purposes; or
(4) To pay expenses incurred by the corporation under § 14-175-113 relating to job training.
(b) Tax proceeds received by a corporation under § 14-174-101 et seq. shall not be used for a project for the direct benefit of a specific individual or individuals or nongovernmental enterprise or enterprises unless the primary purpose of the project is to finance an economic development project or provide an economic development service within or near the local government that levies the tax, as provided under § 14-174-105.
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-174-101. Purpose.
The purpose of this subchapter is to provide cities and counties with the authority to levy taxes to raise revenue for funding economic development projects to stimulate the local economy and to support private sector job creation opportunities. No funds generated by any tax levied pursuant to this subchapter shall be used as general operating revenue, but shall be expended for the purposes prescribed by §§ 14-174-105 — 14-174-107 or § 14-174-109.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-174-101
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 14-174-101. 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
14-175-113. Average weekly wage — Job training expenditures.
A corporation may spend tax revenue received under this chapter for job training offered through an enterprise only if the enterprise has committed in writing to:
(1) Create new jobs that pay wages that are at least equal to the prevailing wage for the applicable occupation in the local labor market area; or
(2) Retain jobs that pay wages that are at least equal to the prevailing wage for the applicable occupation in the local labor market area.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-175-113
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 14-175-113. This identifies an authority to review, not proof of applicability.