HB1082

House Bill 1082 is a supplemental appropriations act that authorizes $25,000,000 in additional funding for the Arkansas Economic Development Commission. These funds are designated for the Economic Development Incentive Program to provide financial incentives to companies that establish new facilities or expand existing operations within Arkansas. To receive these incentives, companies must enter into signed financial agreements with the Department of Commerce and meet specific employment levels. The bill mandates strict compliance with state procurement and fiscal control laws in the disbursement of these funds. Additionally, the bill includes an emergency clause, declaring that the immediate provision of these funds is necessary for the proper administration of essential governmental services.