Section 15-11-512 - Natural State Initiative Pilot Program

(a) There is created a program to be known as the 'Natural State Initiative Pilot Program'.(b) The program shall be developed, implemented, and administered by the Arkansas Economic Development Commission in consultation with the Department of Parks, Heritage, and Tourism.(c) The purpose of the program is to:(1) Promote both Arkansas's growing outdoor recreation industry and the economic impact of outdoor infrastructure investment;(2) Recruit new outdoor recreation businesses to Arkansas, expand existing outdoor recreation businesses, and foster entrepreneurial growth by using economic development incentives, site selection services, funding, and training resources within the commission; and(3) Implement Natural State Initiative Opportunity Zones.(d) The commission and the department shall work cooperatively to accomplish the purposes of the program.(e)(1) The Director of the Arkansas Economic Development Commission, in consultation with the Secretary of the Department of Parks, Heritage, and Tourism, shall establish no more than four (4) Natural State Initiative Opportunity Zones.(2)(A) The Natural State Initiative Opportunity Zones shall be located within or no more than

, Heritage, and Tourism, shall establish no more than four (4) Natural State Initiative Opportunity Zones.(2)(A) The Natural State Initiative Opportunity Zones shall be located within or no more than one-eighth (1/8) of a mile outside the boundaries of a state park, a cultural or historic site, or a cultural or educational center.(B) In designating the location of the Natural State Initiative Opportunity Zones, the director shall take into account the need for geographic diversity in the locations of the Natural State Initiative Opportunity Zones and the potential for economic development opportunities within the proposed Natural State Initiative Opportunity Zones.(3) The director shall establish the Natural State Initiative Opportunity Zones through the promulgation of rules in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq.Added by Act 2023, No. 652,§ 8, eff. 8/1/2023.