The bill amends the law governing advertising and promotion commissions in Arkansas to allow tax revenue credited to these commissions to be utilized for hiring staff members focused on economic development within the city. Specifically, it modifies Arkansas Code 26-75-606(a)(1)(B) to include provisions for engaging personnel responsible for promoting economic development, thereby expanding the scope of how funds from the city advertising and promotion fund can be used.

Additionally, the bill establishes an effective date for these changes, stating that the new provisions will apply to assessment years beginning on or after January 1, 2023. This legislative change aims to enhance the capacity of advertising and promotion commissions to contribute to local economic growth through dedicated personnel.

Statutes affected:
HB 1114: 26-75-606(a)