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AR HB1539
Bill
Status
5/17/2013
Primary Sponsor
Andrea Lea
Click for details
AI Summary
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Amends Arkansas Code § 19-5-1231(f) to require agreements between the commission and businesses receiving Economic Development Incentive Quick Action Closing Fund money contain one or more specific and unambiguous goals.
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Requires agreements to specify the percentage of funds that must be returned to the Economic Development Incentive Quick Action Closing Fund if the business fails to meet the stated goals.
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Mandates the Arkansas Economic Development Commission submit an annual written report to the Legislative Council detailing fund recipients, disbursement dates and amounts, effectiveness evaluations, and improvement suggestions.
Legislative Description
To Require That Agreements Under The Economic Development Incentive Quick Action Closing Fund State Specific And Unambiguous Goals And Require A Refund Of A Certain Amount If The Goals Are Not Met.
Last Action
Died in House Committee at Sine Die adjournment.
5/17/2013