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Bill > HB1659
AR HB1659
AR HB1659To Encourage The Award Of Economic Development Funding To New Businesses And Businesses Established Within The Previous Five Years.
summary
Introduced
03/16/2023
03/16/2023
In Committee
04/05/2023
04/05/2023
Crossed Over
03/30/2023
03/30/2023
Passed
Dead
05/01/2023
05/01/2023
Introduced Session
94th General Assembly (2023 Regular)
Bill Summary
AN ACT TO ENCOURAGE THE AWARD OF ECONOMIC DEVELOPMENT FUNDING TO NEW BUSINESSES AND BUSINESSES ESTABLISHED WITHIN THE PREVIOUS FIVE YEARS; AND FOR OTHER PURPOSES.
AI Summary
This bill aims to encourage the award of economic development funding to new businesses and businesses established within the previous five years in the state of Arkansas. The bill requires the Arkansas Economic Development Commission to ensure that at least 5% of funding budgeted for economic development programs, including community development block grants, is directed towards supporting organizations or programs that assist individuals starting new businesses or provide services to businesses established within the previous five years in the state. The bill's effective date is set to January 1, 2025.
Committee Categories
Agriculture and Natural Resources, Business and Industry
Sponsors (3)
Last Action
Died on Senate Calendar at Sine Die adjournment. (on 05/01/2023)
Bill Topics
Banking, Finance, and Domestic Commerce
- ‐ Small Business
Community Development and Housing Issues
- ‐ Community and Regional Development
Macroeconomics
- ‐ Industrial Policy
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.arkleg.state.ar.us/Bills/Detail?id=hb1659&ddBienniumSession=2023%2F2023R | 03/16/2023 |
| BillText | https://www.arkleg.state.ar.us/Bills/FTPDocument?path=%2FBills%2F2023R%2FPublic%2FHB1659.pdf | 03/16/2023 |
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