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AR HB1981
Bill
Status
4/3/2019
Primary Sponsor
Ken Ferguson
Click for details
AI Summary
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Creates the Multicounty Economic Development Grant Program within the Rural Services Division of the Arkansas Economic Development Commission to provide grants for economic development projects across the state.
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Establishes the Multicounty Economic Development Grant Program Fund to receive grants from any person or federal agency, carry forward remaining balances, and fund the program.
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Requires applicants to demonstrate that proposed projects would result in positive economic return on investment for the state and planning/development district, with applications submitted to local planning and development district boards.
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Limits grants to one economic development project per planning and development district during each award period, with available funds distributed evenly among awarded grants.
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Requires the Rural Services Division to adopt rules implementing the program by January 1, 2020, and mandates planning and development districts to oversee funded projects and submit completion reports detailing project outcomes and benefits.
Legislative Description
To Create The Multicounty Economic Development Grant Program Act; And To Create The Multicounty Economic Development Grant Program Fund.
Last Action
Recommended for study in the Interim by Joint Interim Committee on AGRICULTURE, FORESTRY & ECONOMIC DEVELOPMENT- HOUSE
4/5/2019