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15-4-1604. Powers and duties of the Arkansas Economic Development Commission.

Arkansas Code — all titles (historical 2020) · legal_authorities

15-4-1604. Powers and duties of the Arkansas Economic Development Commission.

15-4-1604. Powers and duties of the Arkansas Economic Development Commission. The Arkansas Economic Development Commission shall administer the provisions of this subchapter and shall have the following powers and duties in addition to those mentioned in this subchapter and in other laws of this state: (1) To 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)(A) In highly competitive situations, the Director of the Arkansas Economic Development Commission is authorized to negotiate proposals on behalf of the state with prospective businesses which are considering locating a new facility or expanding an existing facility that would employ the requisite number of net new full-time permanent employees provided by § 15-4-1605. (B) The commission is authorized to negotiate with the business a financial incentive plan up to an amount equal to three and nine-tenths percent (3.9%) of the business's annual payroll for the net new full-time permanent employees, and may negotiate with the business a financial incentive plan up to an amount equal to five percent (5%) of the annual payroll for the net new full-time permanent employees if the business locates in an area of high unemployment as defined by § 15-4-1602; (3) To provide the Department of Finance and Administration with a copy of each formal agreement entered into by the commission with each of the qualifying businesses so that the department will know how much money is to be designated for the Economic Development Incentive Fund each quarter; and (4) To make disbursement from the fund to qualified businesses which have entered into financial incentive plans.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-1604

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:15-4-1604
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 1b34c2b41a1e3ecaeecf1baa808a4d555e0e5f7d0f529d7fcb79440f4fbc0459

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Arkansas Code — all titles (historical 2020) · legal_authorities

15-4-1602. Definitions.

15-4-1602. Definitions. As used in this subchapter: (1) “Annual payroll” means the wages of the net new full-time permanent employees based on the payroll for the previous twelve (12) months reported to the Division of Workforce Services and is computed by using the total of the net new full-time permanent employees' reported taxable earnings, including overtime pay; (2) “Commission” means the Arkansas Economic Development Commission; (3) “Corporate or regional headquarters” means the home or center of operations, including research and development, of a national or multinational corporation; (4) “Distribution center” means a facility for the reception, storage, or shipping of: (A) A business's own products or products which the business wholesales to retail businesses or ships to its own retail outlets; (B) Products owned by other companies with which the business has contracts for storage and shipping if seventy-five percent (75%) of the sales revenues are from out-of-state customers; or (C) Products for sale to the general public if seventy-five percent (75%) of the sales revenues are from out-of-state customers; (5) [Repealed.] (6)(A) “Existing employees” means those employees hired by the business prior to the date of the signed financial incentive plan. (B) Existing employees may be considered “net new full-time permanent employees” only if: (i) The position or job filled by the existing employee was created in accordance with the signed financial incentive plan; and (ii) The position vacated by the existing employee was either filled by a subsequent employee or no subsequent employee will be hired because the business no longer conducts the particular business activity requiring such classification; (7) “Financial incentive plan” means

Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-1602

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 15-4-1602. This identifies an authority to review, not proof of applicability.

Arkansas Code — all titles (historical 2020) · legal_authorities

15-4-1605. Qualifications.

15-4-1605. Qualifications. To qualify for the benefits of this subchapter, the entity applying must: (1) Be classified as one (1) or more of the following types of businesses: (A) Manufacturers classified in Standard Industrial Classification codes 20-39, including semiconductor and microelectronic manufacturers that will employ one hundred (100) or more net new full-time permanent employees; (B)(i) Computer businesses primarily engaged in providing: (a) Computer programming services; (b) Design and development of prepackaged software; (c) Digital content production and preservation; (d) Computer processing and data preparation services; (e) Information retrieval services; and (f) Computer and data processing consulting and developing. (ii) All businesses in the group described in subdivision (1)(B)(i) of this section shall: (a) Employ twenty-five (25) or more net new full-time permanent employees; (b) Derive at least seventy-five percent (75%) of the business’s revenue from out-of-state sales; and (c) Have no retail sales to the general public; (C) Businesses primarily engaged in commercial physical and biological research as classified by Standard Industrial Classification code 8731 that will employ fifty (50) or more net new full-time permanent employees; (D)(i) Businesses primarily engaged in motion picture production that will employ fifty (50) or more net new full-time permanent employees. (ii) All businesses in this group must derive at least seventy-five percent (75%) of their revenue from out-of-state sales and have no retail sales to the general public; (E) A distribution center with no retail sales to the general public unless seventy-five percent (75%) of the sales revenues are from out-of-state customers and that will empl

Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-1605

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 15-4-1605. This identifies an authority to review, not proof of applicability.

Arkansas Code — all titles (historical 2020) · legal_authorities

25-15-201. Title.

25-15-201. Title. This subchapter shall be known and cited as the “Arkansas Administrative Procedure Act”.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 25-15-201

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 25-15-201. This identifies an authority to review, not proof of applicability.