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AR HB1659
Bill
Status
5/1/2023
Primary Sponsor
Aaron Pilkington
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AI Summary
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Adds Arkansas Code 15-4-221 requiring the Arkansas Economic Development Commission to encourage allocation of at least 5% of economic development program funding to support new businesses and businesses less than five years old
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Funding scope includes community development block grants and other budgeted economic development programs
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Eligible recipients are organizations or programs serving individuals starting new businesses in Arkansas or providing services to businesses established within the previous five years with principal place of business in the state
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Effective date is January 1, 2025
Legislative Description
To Encourage The Award Of Economic Development Funding To New Businesses And Businesses Established Within The Previous Five Years.
Last Action
Died on Senate Calendar at Sine Die adjournment.
5/1/2023