This text of Arkansas § 6-50-704 (Rules for program) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
(a)The Arkansas Economic Development Commission shall promulgate rules under the Arkansas Administrative Procedure Act, § 25-15-201 et seq., for implementation of this subchapter by the commission.
(b)Rules shall include, but not be limited to, the following:
(1)Training shall be conducted for the purpose of meeting specific business goals and performance objectives;
(2)As part of the application process, a company or consortium shall be responsible for determining that participants involved in the training program possess the appropriate prerequisite literacy skills;
(3)(A) The amount of financial support a company or consortium receives shall be determined and approved by the commission and set forth in writing prior to any funds' being committed and distributed or prior to any tax
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(a) The Arkansas Economic Development Commission shall promulgate rules under the Arkansas Administrative Procedure Act, § 25-15-201 et seq., for implementation of this subchapter by the commission. (b) Rules shall include, but not be limited to, the following: (1) Training shall be conducted for the purpose of meeting specific business goals and performance objectives; (2) As part of the application process, a company or consortium shall be responsible for determining that participants involved in the training program possess the appropriate prerequisite literacy skills; (3) (A) The amount of financial support a company or consortium receives shall be determined and approved by the commission and set forth in writing prior to any funds' being committed and distributed or prior to any tax credits' being approved. (B) For companies or consortia that use state-supported educational institutions to deliver classroom training to their employees, the amount of support shall be the lesser of: (i) One-half (1/2) of the amount paid by the company to the state-supported educational institution for the training; (ii) (a) The instructional hour rate established by the governing council, not to exceed one hundred dollars ($100) per instructional hour, times the number of instructional hours delivered with fifty percent (50%) or more of the eligible participants completing the course. (b) For companies that use company employees or company-paid consultants to deliver classroom training to their employees, the amount of the tax credit shall not be more than twenty-five dollars ($25.00) per instructional hour. (c) (1) The minimum class size needed to receive full benefits is five (5) trainees. (2) For classes smaller than five (5), the amount of support will be reduced proportionally; (iii) The instructional hour rate established by the governing council, not to exceed thirty-five dollars ($35.00) per instructional hour, times the number of instructional hours for safety-related training; or (iv) The instructional hour rate established by the governing council, not to exceed thirty-five dollars ($35.00) per instructional hour, times the number of instructional hours for all courses with less than fifty percent (50%) of the eligible participants completing each course; (4) Training delivered by means other than traditional classroom training may be considered by the governing council. For approved training delivered by means other than traditional classroom training, a flat rate of reimbursement will be established by the governing council; (5) Applications for tax credits afforded by this subchapter shall be available on and after January 1, 2000; (6) The maximum amount of total tax credits allowed by the commission pursuant to this subchapter shall not exceed four hundred fifty thousand dollars ($450,000) per year; (7) Neither grant funds nor tax credits shall be used to support any training, including remedial basic skills training, that is authorized under any other state or federal program; and (8) Neither grant funds nor tax credits shall be used to support any training that is mandated by any state law, state rule, federal law, or federal regulation.