AR HJR1014

Proposes a constitutional amendment authorizing the General Assembly to create economic development districts within cities, counties, or cooperative areas to promote economic growth, job creation, and infrastructure development

Allows economic development districts to issue bonds for financing projects, with bonds exempt from state debt limits and certain constitutional restrictions on public debt

Permits counties, cities, and municipalities to provide funding or lend credit to economic development districts, expanding existing exceptions that allow public money for economic development projects

Exempts property within economic development districts from standard taxation, except for taxes and assessments levied by the district itself; property already tax-exempt (churches, schools, cemeteries) retains that status

Requires voter approval at the next general election; if adopted by majority vote, the amendment takes effect January 1, 2027