HB1931 Summary

• Changes regional economic development partnership requirement from "willing to form" to "have formed" partnerships, making partnership formation mandatory rather than voluntary.

• Modifies board of directors composition to allow each municipality or county member to appoint multiple members (changed from "one member" to "members"), with public officials permitted to serve during their terms in office.

• Allows existing entities to maintain their own rules regarding board membership, terms, and duties if approved by the Arkansas Economic Development Commission.

• Restricts state regional funding to Arkansas counties only when a partnership includes territory in another state.

• Updates application requirements to include three-year business strategic plans aligned with the Governor's Strategic Plan for Economic Development and requires evidence of at least 1.5 full-time equivalent staff positions dedicated to the partnership.