HB1802

House Bill 1802 creates the Talent Recruitment Grant Program, which is designed to provide financial incentives for individuals to relocate to Arkansas. The program is administered by the Association of Arkansas Development Organizations and is funded through a combination of public and private sources. Municipalities and nonprofit organizations focused on economic or community development can apply for grants to fund their own local recruitment efforts. To qualify, applicants must demonstrate a capacity to contribute at least 20% of the program's total cost and provide detailed plans regarding their economic impact and recruitment goals. The bill mandates quarterly reporting on the program's outcomes, including the number of relocated individuals, their occupations, and their generated tax revenue. Grants are capped at $500,000 per applicant per fiscal year and are disbursed in two 50% installments based on performance benchmarks.