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15-4-3407. State funding.

Arkansas Code — all titles (historical 2020) · legal_authorities

15-4-3407. State funding.

15-4-3407. State funding. (a)(1) Each regional economic development partnership shall enter into an agreement with the Arkansas Economic Development Commission to receive state funds, if available. (2) The agreement under subdivision (a)(1) of this section shall: (A) Be for a term of not longer than one (1) year; and (B) Identify the eligible expenses for which the regional economic development partnership intends to use state funds under § 15-4-3409. (3)(A) The commission and the regional economic development partnership may enter into subsequent one-year agreements under this section following the commission's review of the annual report required under § 15-4-3411. (B) If a regional economic development partnership was initially approved as a multiyear project, a one-year renewal may be granted by the commission without the regional economic development partnership submitting an annual application. (b)(1) Each year, the commission shall allocate funds specifically appropriated by the General Assembly or the commission for regional economic development. (2)(A) The funds shall be distributed equally to the qualifying regional economic development partnerships that meet the matching fund requirements under § 15-4-3408. (B) Funds that are not disbursed under this section during a fiscal year may be distributed in a subsequent fiscal year.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-3407

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:15-4-3407
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f9d4d8a503ab618c1cab6a1baaebffe08b1aec25d4ec1e705a9ec429996e1655

Source location: content.xml paragraph 6154

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Arkansas Code — all titles (historical 2020) · legal_authorities

15-4-3408. Matching funds.

15-4-3408. Matching funds. (a) A regional economic development partnership shall match the state funds allocated to the regional economic development partnership on the basis of at least one dollar ($1.00) of local matching funds for every one dollar ($1.00) of state funds. (b) If a regional economic development partnership does not provide proof of sufficient matching funds before the release of state funds, the Arkansas Economic Development Commission shall reduce the award of state funds in the amount necessary to adhere to the required one-to-one ratio of local matching dollars to state dollars. (c) Local matching funds may be: (1) Provided by public sources, private sources, or a combination of public sources and private sources; and (2)(A) Received in the form of cash, in-kind contributions, or a combination of cash and in-kind contributions. (B) In-kind contributions shall not be more than forty percent (40%) of the regional economic development partnership's total matching funds.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-3408

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 15-4-3408. This identifies an authority to review, not proof of applicability.

Arkansas Code — all titles (historical 2020) · legal_authorities

15-4-3409. Eligible uses of state funds.

15-4-3409. Eligible uses of state funds. State funds under this subchapter shall be used only for marketing, advertising, promoting, and other activities related to implementing the Governor's Strategic Plan for Economic Development required under § 15-4-3405.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-3409

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 15-4-3409. This identifies an authority to review, not proof of applicability.

Arkansas Code — all titles (historical 2020) · legal_authorities

15-4-3411. Annual reports.

15-4-3411. Annual reports. (a) A regional economic development partnership that receives state funding under this subchapter shall submit an annual report to the Arkansas Economic Development Commission. (b) The annual report required under subsection (a) of this section shall include the following: (1) A description of the economic development activities and organizational activities of the regional economic development partnership in the preceding twelve (12) months; (2) A detailed financial report; (3) A detailed budget for the next twelve (12) months; and (4) A description of the prioritized activities of the regional economic development partnership for the next twelve (12) months for which state funding under this subchapter is being requested.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-4-3411

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 15-4-3411. This identifies an authority to review, not proof of applicability.