Browse Arkansas Code titles and sections
15-4-3408. Matching funds.
Arkansas Code — all titles (historical 2020) · legal_authorities
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. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:15-4-3408
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 905a52638e509b361f880bb54d80c3024e2df739ad556b5eff741c6c1ca2aefe
Source location: content.xml paragraph 6170
Stored source content
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.
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