AR SJR15

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

Authorizes 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 for economic development financing

Exempts property within economic development districts from regular taxation, except for taxes and assessments levied by the district itself; tax-exempt properties (churches, schools, public property) retain their exempt status if included in a district

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