Arkansas Code Title 19. Public Finance § 19-5-1236. Technology Acceleration Fund
Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Search Arkansas Code
Search by Keyword or Citation
(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 “Technology Acceleration Fund”.
(b)(1) The Technology Acceleration Fund shall consist of funds transferred to it from the General Improvement Fund or its successor fund or fund accounts, including the Development and Enhancement Fund, or other funds, gifts, bequests, foundation grants and gifts, Governor's Emergency Fund or other emergency funds, federal grants and matching funds, proceeds from bond issues, service charges or fees, interagency transfers of funds, and other funds as may be appropriated by the General Assembly.
(2) The Technology Acceleration Fund shall consist of money transferred from the General Revenue Allotment Reserve Fund and any other money provided by law.
(c) The Technology Acceleration Fund shall be used by the Arkansas Economic Development Commission and the Arkansas Development Finance Authority for investment incentives to enhance the economy of the state through technology development.
(d) Money from the Technology Acceleration Fund may be used in conjunction with other incentives offered by the state to create, attract, or retain business.
(e)(1) Any proposed use of the Technology Acceleration Fund by the commission or the authority shall first be approved by the Governor.
(2) The commission and the authority shall make a joint recommendation to the Governor for any proposed use of the Technology Acceleration Fund.
Cite this article: FindLaw.com - Arkansas Code Title 19. Public Finance § 19-5-1236. Technology Acceleration Fund - last updated January 01, 2020 | https://codes.findlaw.com/ar/title-19-public-finance/ar-code-sect-19-5-1236.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?