The proposed bill establishes the Talent Recruitment Grant Program in Arkansas, aimed at incentivizing individuals from outside the state to relocate. It introduces a new subchapter under Arkansas Code Title 14, Chapter 173, which includes definitions for key terms such as "Applicant," "Individual," and "Individual goal." The program will be administered by the Association of Arkansas Development Organizations and will provide grants to municipalities and nonprofit organizations that meet specific criteria, including the development of a talent recruitment plan and demonstrating a commitment to fund at least 20% of the program's total costs.

Eligible individuals must either have a remote work position with a minimum annual salary of $55,000 or have accepted a full-time job offer in the state. The bill outlines the application process for both applicants seeking grants and individuals applying for relocation incentives. It mandates quarterly reporting from grant recipients to track the program's effectiveness, including metrics on applications received, approvals, costs per individual, and the economic impact generated. Grants will be awarded annually, with a maximum limit of $500,000 per applicant per fiscal year.