(a) A county that does not qualify as a high-unemployment county, as defined in § 15-4-1702, but has experienced a sudden and severe period of economic distress caused by the closing of a business entity that results in the loss of a minimum of five hundred (500) full-time permanent jobs or a minimum of five percent (5%) of the employed labor force, as determined by the most recent 'Labor Market Information' publication published by the Division of Workforce Services, may be designated as a high-unemployment county by the Arkansas Economic Development Council.(b) The designation as a 'high-unemployment county' shall be in effect for one (1) year after the closing of the business.Amended by Act 2019, No. 910,§ 376, eff. 7/1/2019.Acts 2001, No. 807, § 5.
Arkansas Legal Code