Browse Arkansas Code titles and sections
15-4-3302. Equity investment incentives — Creation — Purpose — Tax credit.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-4-3302. Equity investment incentives — Creation — Purpose — Tax credit.
(a) Equity investment incentives in the form of tax credits to persons or companies investing in certain types of eligible businesses are created.
(b) The equity investment incentives shall:
(1) Encourage capital investment in certain types of businesses including:
(A) Early-stage businesses and start-up businesses in this state;
(B) Businesses paying wages in excess of prevailing wages in the state or the county where the company is located; and
(C) Businesses that are invested in by venture capital funds and regional or community-based alliance funds; and
(2) Create new jobs.
(c)(1) An equity investment incentive tax credit is created that shall be equal to thirty-three and one-third percent (331/3%) of the approved amount invested by an investor in an eligible business, as identified in § 15-4-3303(a).
(2) The tax credit, if awarded, is available to the investor.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-3302
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:15-4-3302
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 76e29f27d9a9e93cbfd9fbf4a581b9629f7a7a8c7f04b3642eec697034699295
Source location: content.xml paragraph 5919
Stored source content
15-4-3302. Equity investment incentives — Creation — Purpose — Tax credit.
(a) Equity investment incentives in the form of tax credits to persons or companies investing in certain types of eligible businesses are created.
(b) The equity investment incentives shall:
(1) Encourage capital investment in certain types of businesses including:
(A) Early-stage businesses and start-up businesses in this state;
(B) Businesses paying wages in excess of prevailing wages in the state or the county where the company is located; and
(C) Businesses that are invested in by venture capital funds and regional or community-based alliance funds; and
(2) Create new jobs.
(c)(1) An equity investment incentive tax credit is created that shall be equal to thirty-three and one-third percent (331/3%) of the approved amount invested by an investor in an eligible business, as identified in § 15-4-3303(a).
(2) The tax credit, if awarded, is available to the investor.
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Arkansas Code — all titles (historical 2020) · legal_authorities
15-4-3303. Eligibility for equity investment incentive.
(a) Eligibility for the equity investment incentive tax credit under this subchapter is limited to investments in:
(1) Targeted businesses as defined in § 15-4-2703(43); or
(2) A business that receives assistance in the form of equity investments from capital investment funds that target early-stage businesses and start-up businesses, if the business:
(A) Pays not less than one hundred fifty percent (150%) of the lesser of the county average wage or the state average wage; and
(B) Meets at least two (2) of the following conditions:
(i) The business is in one (1) of the business sectors set forth in § 15-4-2703(43)(A)(i)-(vi);
(ii) The business is identified in a local or regional economic development plan as the type of business targeted for recruitment or growth within the community or region;
(iii) The business is supported by a resolution of the city council or quorum court in the municipality or county in which the business is located or plans to locate;
(iv) The business is supported by business incubators certified under § 26-51-815(d);
(v) The business is supported by federal small business innovation research grants; or
(vi) The business is supported by technology development or seed capital investments made by instrumentalities of the state.
(b)(1) The award of the equity investment incentive tax credit to a qualified business under subsection (a) of this section shall be determined jointly at the discretion of the Director of the Arkansas Economic Development Commission with the advice of the Board of Directors of the Division of Science and Technology of the Arkansas Economic Development Commission and the President of the Arkansas Development Finance Authority.
(2) Only cash in
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-3303
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 15-4-3303. This identifies an authority to review, not proof of applicability.