Bill > SB218

This bill amends the Arkansas Small Business Innovation Research (SBIR) Matching Grant Program by expanding the program's scope to include Small Business Technology Transfer (STTR) grants alongside existing SBIR grants. The bill modifies several key definitions and administrative provisions, primarily transferring program administration from the Division of Science and Technology to the Arkansas Economic Development Commission. The matching grant program will now offer up to 50% matching funds for both Phase I and Phase II federal SBIR and STTR grants, with maximum grant amounts of $50,000 for Phase I and $100,000 for Phase II. Eligible businesses must remain in Arkansas, designate an Arkansas resident as the principal investigator, and be principally engaged in targeted business activities like advanced manufacturing, biotechnology, information technology, and agriculture. The bill also streamlines the application process, requiring businesses to submit applications for each federal grant proposal, with applications reviewed in order of receipt. Additionally, the bill removes a previous limitation on the number of matching grants a business could receive and emphasizes that at least 51% of the grant amount must be spent within Arkansas.

Agriculture and Natural Resources

https://arkleg.state.ar.us/Bills/Detail?id=sb218&ddBienniumSession=2025%2F2025R