(a) (1) To qualify as a superproject, the investment and job creation requirements must be attained no later than the eighth year after the project first begins operations unless the eight-year period is extended by the Arkansas Economic Development Commission.
(2) The commission may extend the eight-year deadline for a reasonable period of time, taking into consideration general economic conditions.
(b) If the investment and job creation requirements are not attained within the eight-year deadline or the extended deadline as prescribed by the commission, the sponsor shall refund to the Arkansas Development Finance Authority any funds the sponsor received under this subchapter.
Section: Previous 15-4-3002 15-4-3003 15-4-3004 15-4-3005 15-4-3006 15-4-3007 15-4-3008 15-4-3009 15-4-3010 15-4-3011 15-4-3012 15-4-3013 15-4-3014 15-4-3015 NextLast modified: November 15, 2016