HB2030 Summary

• Creates the Arkansas Economic Incentive Transparency Act requiring the Arkansas Economic Development Commission to report detailed information on state economic incentives and development projects.

• Requires annual reports on each economic development incentive program including program summaries, eligibility requirements, clawback terms, annual costs, and cumulative cost data over the program's lifetime.

• Mandates reporting on individual economic development incentive projects including entity information, projected job creation and wages, actual performance data, and copies of financial incentive agreements.

• Requires county-level reporting on aggregate economic incentive data and five-year employment and wage growth comparisons using U.S. Bureau of Labor Statistics data.

• Directs the Economic Development Commission to create and maintain a publicly accessible website presenting all required economic incentive data in a searchable, common format, with data retention starting from fiscal year 2018 and maintaining at least ten years of historical data.