A corporation may spend tax revenue received under this chapter for job training offered through an enterprise only if the enterprise has committed in writing to:
(1) Create new jobs that pay wages that are at least equal to the prevailing wage for the applicable occupation in the local labor market area; or
(2) Retain jobs that pay wages that are at least equal to the prevailing wage for the applicable occupation in the local labor market area.
Structure Arkansas Code
Subtitle 10 - Economic Development And Tourism Generally
Chapter 175 - Public Corporations for Economic Development Act
§ 14-175-105. Authority generally
§ 14-175-106. Authority and procedure to incorporate
§ 14-175-107. Articles of incorporation
§ 14-175-108. Execution and recording of articles
§ 14-175-109. Board of directors
§ 14-175-111. Powers generally
§ 14-175-112. Economic development taxes
§ 14-175-113. Average weekly wage — Job training expenditures
§ 14-175-114. Limitation on liability
§ 14-175-116. Application of Arkansas Nonprofit Corporation Act of 1993