(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a miscellaneous fund to be known as the “Economic Development Incentive Quick Action Closing Fund”.
(b) The Economic Development Incentive Quick Action Closing Fund shall consist of money transferred from the General Revenue Allotment Reserve Fund and any other money provided by law.
(c) The Economic Development Incentive Quick Action Closing Fund shall be used by the Arkansas Economic Development Commission for investment incentives to compete with other states to attract new business and economic development to the state or to retain existing business in the state.
(d) Money from the Economic Development Incentive Quick Action Closing Fund may be used in conjunction with other incentives offered by the state to attract new business or retain existing business.
(e)
(1) Any proposed use of the Economic Development Incentive Quick Action Closing Fund by the Arkansas Economic Development Commission shall first be approved by the Governor.
(2) Upon approval by the Governor, the Governor shall submit the proposed use of the Economic Development Incentive Quick Action Closing Fund for the review of the Legislative Council.
(f) The Arkansas Economic Development Commission shall submit an annual written report to the Legislative Council concerning the Economic Development Incentive Quick Action Closing Fund, which will contain the following:
(1) The name and address of the businesses receiving money from the Economic Development Incentive Quick Action Closing Fund;
(2) The date, amount, and reason of the disbursements of money from the Economic Development Incentive Quick Action Closing Fund;
(3) An evaluation of the effectiveness of the disbursements made from the Economic Development Incentive Quick Action Closing Fund; and
(4) Any suggestions for improving the use of the Economic Development Incentive Quick Action Closing Fund.
Structure Arkansas Code
Chapter 5 - Revenue Stabilization Law
Subchapter 12 - Miscellaneous Funds Continued
§ 19-5-1205. Youth Services Facilities Needs Fund
§ 19-5-1206. Building Authority Division Real Estate Fund
§ 19-5-1209. Rural Physician Incentive Revolving Fund
§ 19-5-1211. Department of Labor and Licensing Special Fund
§ 19-5-1213. Arkansas Athletic Commission Fund
§ 19-5-1217. Computer and Electronic Recycling Fund
§ 19-5-1219. Department of Economic Development Super Projects Fund
§ 19-5-1220. Drug Prevention and Intervention Program Fund
§ 19-5-1221. Port Priority Improvement Fund
§ 19-5-1225. Nonpartisan Filing Fee Fund
§ 19-5-1227. Educational Adequacy Fund
§ 19-5-1228. Area Agencies on Aging Fund
§ 19-5-1229. Purchase and Corporate Travel Card Program Fund
§ 19-5-1230. UAMS Cancer Research Center Matching Fund
§ 19-5-1231. Economic Development Incentive Quick Action Closing Fund
§ 19-5-1232. Division of Workforce Services Unemployment Insurance Administration Fund
§ 19-5-1234. Division of Workforce Services Fund
§ 19-5-1235. Science, Technology, Engineering, and Math Fund
§ 19-5-1236. Technology Acceleration Fund
§ 19-5-1237. Innovate Arkansas Fund
§ 19-5-1238. Sustainable Building Design Revolving Loan Fund
§ 19-5-1239. Newborn Umbilical Cord Blood Initiative Fund
§ 19-5-1240. Minority and Women-Owned Business Loan Mobilization Revolving Fund
§ 19-5-1241. Trial Court Administrator Fund
§ 19-5-1242. Fire Protection Licensing Fund
§ 19-5-1243. Arkansas Acceleration Fund
§ 19-5-1244. Health Information Technology Fund
§ 19-5-1245. Arkansas Great Places Program Fund
§ 19-5-1246. County Juror Reimbursement Fund
§ 19-5-1247. County Voting System Grant Fund
§ 19-5-1248. Electrical Energy Advancement Program Fund
§ 19-5-1249. Alternative Motor Fuel Development Fund
§ 19-5-1250. Open Enrollment Public Charter School Capital Grant Program Fund
§ 19-5-1251. Open-Enrollment Public Charter School Facilities Loan Fund
§ 19-5-1252. Safe Harbor Fund for Sexually Exploited Children — Definition
§ 19-5-1253. Arkansas Port, Intermodal, and Waterway Development Grant Program Fund
§ 19-5-1254. New Markets Performance Guarantee Fund
§ 19-5-1255. Arkansas Unpaved Roads Program Fund
§ 19-5-1256. Arkansas Wireless Information Network Financing Fund
§ 19-5-1257. Workforce Initiative Act of 2015 Fund
§ 19-5-1258. Future Transportation Research Fund
§ 19-5-1259. Mandatory Publication Reimbursement Fund
§ 19-5-1260. Arkansas Children's Advocacy Center Fund
§ 19-5-1261. Human Trafficking Victim Support Fund — Definition
§ 19-5-1263. Restricted Reserve Fund
§ 19-5-1264. Arkansas River Navigation System Fund
§ 19-5-1265. Graduate Medical Education Fund
§ 19-5-1266. Immediate Disaster Response Fund