As used in this subchapter:(1) 'Eligible business' means a for-profit business that:(A) Is registered as a business entity in good standing with the Secretary of State; and(B) Has its principal place of business in Arkansas;(2) 'Matching grant' means a discretionary grant of up to fifty percent (50%) of the amount of a federal Small Business Innovation Research grant for each approved matching grant application;(3) 'Principal investigator/project manager' means the primary individual designated by an eligible business to provide the scientific and technical direction to a project supported by a matching grant; and(4) 'Small Business Innovation Research Program' means the federal program administered by the United States Small Business Administration according to regulations adopted pursuant to 15 U.S.C. § 638, as it existed on October 1, 2016, which provides funds for Phase I and Phase II Small Business Innovation Research grants through participating federal agencies.Added by Act 2017, No. 166,§ 2, eff. 10/1/2017.
Arkansas Legal Code