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15-4-219. Annual report.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-4-219. Annual report.
The Arkansas Economic Development Commission shall present a report annually on the commission's work during the previous calendar year in these areas of concern:
(1) An accounting of:
(A) Each project that was offered incentives in the previous calendar year, including without limitation:
(i) The number of jobs proposed by each project;
(ii) For each job creation project that receives funds from the Economic Development Incentive Quick Action Closing Fund under § 19-5-1231, an indication of whether each project contains a repayment requirement;
(iii)(a) Each project that received funds from the Economic Development Incentive Quick Action Closing Fund under § 19-5-1231.
(b) The information reported in subdivision (1)(A)(iii)(a) of this section and any other related information shall be made available to the Office of Economic and Tax Policy upon request;
(iv) The location of each project; and
(v) The specific incentives offered by the commission;
(B) Each project that was offered incentives but that did not accept incentives, including without limitation:
(i) An assessment of the reasons why each offered project failed to open; and
(ii) Any proposals the General Assembly should consider that would have assisted the commission in its negotiations regarding each project;
(C) Each factory and plant that closed in the previous calendar year, including without limitation:
(i) The number of jobs lost as the result of the closure of each factory or plant;
(ii) The location of each factory or plant that closed; and
(iii) An assessment of the reasons for each factory or plant closing; and
(D) The commission's strategies and recommendations for the coming year, including:
(i) An assessment of the relative risk of loss o
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-219
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:15-4-219
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 67f956b1812d53554b00dc5f58798b265644234c8477e4d7b4ce0f7604073afa
Source location: content.xml paragraph 1501
Stored source content
15-4-219. Annual report.
The Arkansas Economic Development Commission shall present a report annually on the commission's work during the previous calendar year in these areas of concern:
(1) An accounting of:
(A) Each project that was offered incentives in the previous calendar year, including without limitation:
(i) The number of jobs proposed by each project;
(ii) For each job creation project that receives funds from the Economic Development Incentive Quick Action Closing Fund under § 19-5-1231, an indication of whether each project contains a repayment requirement;
(iii)(a) Each project that received funds from the Economic Development Incentive Quick Action Closing Fund under § 19-5-1231.
(b) The information reported in subdivision (1)(A)(iii)(a) of this section and any other related information shall be made available to the Office of Economic and Tax Policy upon request;
(iv) The location of each project; and
(v) The specific incentives offered by the commission;
(B) Each project that was offered incentives but that did not accept incentives, including without limitation:
(i) An assessment of the reasons why each offered project failed to open; and
(ii) Any proposals the General Assembly should consider that would have assisted the commission in its negotiations regarding each project;
(C) Each factory and plant that closed in the previous calendar year, including without limitation:
(i) The number of jobs lost as the result of the closure of each factory or plant;
(ii) The location of each factory or plant that closed; and
(iii) An assessment of the reasons for each factory or plant closing; and
(D) The commission's strategies and recommendations for the coming year, including:
(i) An assessment of the relative risk of loss of factories, plants, and jobs in the state; and
(ii) Plans for:
(a) Preventing future closings of factories and plants;
(b) Preventing future losses of jobs;
(c) Increasing the number of economic development proposals within the state;
(d) Drawing an increasing number of economic development proposals into the state; and
(e) Creating new incentives for economic development proposals; and
(2) The Director of the Arkansas Economic Development Commission's assessment of the commission's performance, including without limitation a comparison to:
(A) The commission's performance over the past two (2) years;
(B) The commission's own projections; and
(C) Economic development in neighboring states.
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Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-1231. Economic Development Incentive Quick Action Closing Fund.
(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a miscellaneous fund to be known as the “Economic Development Incentive Quick Action Closing Fund”.
(b) The Economic Development Incentive Quick Action Closing Fund shall consist of money transferred from the General Revenue Allotment Reserve Fund and any other money provided by law.
(c) The Economic Development Incentive Quick Action Closing Fund shall be used by the Arkansas Economic Development Commission for investment incentives to compete with other states to attract new business and economic development to the state or to retain existing business in the state.
(d) Money from the Economic Development Incentive Quick Action Closing Fund may be used in conjunction with other incentives offered by the state to attract new business or retain existing business.
(e)(1) Any proposed use of the Economic Development Incentive Quick Action Closing Fund by the Arkansas Economic Development Commission shall first be approved by the Governor.
(2) Upon approval by the Governor, the Governor shall submit the proposed use of the Economic Development Incentive Quick Action Closing Fund for the review of the Legislative Council.
(f) The Arkansas Economic Development Commission shall submit an annual written report to the Legislative Council concerning the Economic Development Incentive Quick Action Closing Fund, which will contain the following:
(1) The name and address of the businesses receiving money from the Economic Development Incentive Quick Action Closing Fund;
(2) The date, amount, and reason of the disbursements of money from the Economic Development Incentive Qui
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-1231
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 19-5-1231. This identifies an authority to review, not proof of applicability.